Fast-growing pet insurer Napo has closed a £12m Series B round of funding, bringing the total amount raised to date to approximately £30m.
The round was led by Mercia Ventures, with participation from existing investors DN Capital, Companion Fund, MTech Capital, Helvetia Venture Fund, and others.
The funding will be used to further strengthen Napo’s AI and automation capabilities, drive market share growth, and attract exceptional talent to support the company’s continued expansion.
Launched in December 2021, Napo is a pet insurance business that offers extras as standard that it says no other pet insurance includes, such as dental cover and behavioural treatment.
Named after co-founder Jean-Philippe Doumeng’s beloved pup Napoleon, London-based Napo says it is ‘built by pet parents for pet parents’.
“Our approach isn’t about cutting corners or offering cheap policies that don’t cover what matters,” said CEO Doumeng (pictured, left, with fellow co-founder Ludovic Lacay).
“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 wellbeing.
“This funding fuels our mission to revolutionise pet insurance with sustainability and quality at its core.”
Through its ‘Fight Against Basic’ campaign, Napo says it 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 people toward the lowest upfront cost rather than highlighting policies that provide more comprehensive protection.
Doumeng continued: “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.”
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.”