Global law firm Freshfields is advising Marshmallow Technology in relation to its Series C fundraising, which values the company at just over $2 billion.  The fundraise is being led by Portage, a global fintech and financial services investment platform.

Focused on providing car and van insurance to those who have moved to the UK, Marshmallow has now insured over 1 million drivers and has a turnover run rate of over $500m, making it one of the largest fintechs in Europe.

The Series C fundraising comes three years after the business’ Series B fundraising. Marshmallow intends to use the new equity investment to grow its product offering and support plans for international expansion, with the business looking to offer financial products to people who have relocated to other countries, extending beyond just those who have moved to the UK.  

The Freshfields team was led by corporate partner Ziyad Nassif. Employment and benefits advice was provided by partner David Mendel and partner May Smith advised on tax matters.