PriyaPatel
TLDR:
- Lassie, a pet insurance company, has expanded to France after rapid growth in Sweden and Germany.
- France ranks among the top three European countries in terms of pet ownership, with high spending on pets.
Key Elements:
Pet insurance company Lassie has expanded to France following successful growth in Sweden and Germany. With a recent Series B funding round of €23 million, the company is now ready to provide preventative pet insurance at scale in France. France is a top country in Europe for pet ownership, with high levels of spending on pets. Lassie aims to address the rising costs of veterinary care in France through its preventative pet insurance approach.
Founded in 2021, Lassie now has almost 100,000 customers and covers a wide range of dog and cat breeds. The company offers a preventive app with unlimited preventive care content from vets, as well as discounts on preventative care for customers. Lassie’s unique approach to pet insurance has led to a high retention rate for the company.
Lassie’s CEO, Hedda Båverud Olsson, emphasizes the company’s commitment to being a preventive partner for pets throughout their lives. The company offers comprehensive insurance packages for pets of all ages, with no fixed deductible and up to €3000 reimbursement annually. Lassie also provides courses on pet care for customers and automates claims through AI for greater efficiency.
Expanding into new markets like France comes with challenges, including navigating regulatory environments and understanding local pet owner preferences. Lassie’s focus for 2024 is to deepen its presence in existing markets and offer more preventive products to customers. The company advises startups expanding to new markets to hire local teams, adapt distribution strategies, and create strong partnerships to increase awareness.
