Napo, a London-based InsurTech startup delivering pet insurance solutions, has successfully closed its €14.4 million Series B, bringing the total amount raised to date to approximately €36.1 million, in order to strengthen their AI and automation capabilities.
The round was led by Mercia Ventures, with participation from existing investors DN Capital, Companion Fund, MTech Capital, Helvetia Venture Fund, and others.
Jean-Philippe Doumeng, Co-founder and CEO at Napo commented: “Our approach isn’t about cutting corners or offering cheap policies that don’t cover what matters. By controlling the full value chain, we’ve achieved an NPS of 70+, standout Trustpilot reviews, and a seamless experience for pet parents. We’ve built Napo to offer comprehensive coverage that truly matters – whether it’s dental care, behavioural support, or quick and fair claims handling, ensuring pet parents can focus on what really counts – their pet’s well-being. This funding fuels our mission to revolutionise pet insurance with sustainability and quality at its core.”
Founded in 2021 by Jean-Philippe Doumeng and Ludovic Lacay, Napo is a pet insurance business that offers extras as standard that “no other pet insurance include“, such as dental cover and behavioural treatment.
Napo’s goal is to use insurance as a gateway into ‘all things pets,’ creating a one-stop, all-in-one service that fits seamlessly into pet owners’ everyday lives.
Martijn Kleibergen, Investment Director at Mercia Ventures added: “Napo’s approach is exactly what the pet insurance sector needs – a blend of innovative technology, customer care, and long-term sustainability. We are thrilled to support a company redefining what pet insurance can offer for modern pet owners.”
Guy Ward Thomas, Partner at DN Capital said: “Napo has proven our thesis that pet insurance needed a new, higher standard for a fast-growing market. Napo has clearly demonstrated that exceptional execution and an innovative customer-focused proposition can drive tremendous growth and customer love.”
According to Napo, many insurers prioritise low prices over quality, leaving pet owners vulnerable when it matters most. Napo takes a different approach, focusing on sustainable growth and full control of the insurance process.
Napo combines AI-driven efficiency with human empathy to innovate pet insurance. By investing in predictive models and automation, it streamlines claims while ensuring compassionate support. As it scales toward 100k insured pets, Napo remains committed to providing fast, reliable coverage that gives pet parents confidence when they need it most.
Doumeng added: “Our innovation in AI-driven claims handling is central to our operations. But we also recognise that behind every claim is a family and a pet they deeply care about. By combining the power of AI with human expertise, we’ve built operations that are both efficient and deeply empathetic.”
Through its ‘Fight Against Basic’ campaign, Napo is taking a stand against the industry’s over-reliance on cheap, low-coverage policies that prioritise price over real value. A key driver of this trend is the rise of price comparison websites, which often steer pet parents toward the lowest upfront cost rather than highlighting policies that provide more comprehensive protection.
Read the orginal article: https://www.eu-startups.com/2025/02/napo-sniffs-out-e14-4-million-to-take-a-bite-out-of-outdated-pet-insurance/
