Marshmallow partners with Evolution Funding
London-based car insurance startup Marshmallow <i class="fa fa-info-circle company-popover" data-content=" Marshmallow Founded: 2016 Headquarters: London, England, United Kingdom Total Funding: $224.82M See full company profile “> is getting into motor financing through a partnership with Evolution Funding, “the UK’s largest used auto finance platform.” Evolution, which provides digital finance solutions, helps finance 87k+ vehicles a…
London-based car insurance startup
Marshmallow <i class="fa fa-info-circle company-popover" data-content="
Marshmallow
| Founded: | 2016 |
|---|---|
| Headquarters: | London, England, United Kingdom |
| Total Funding: | $224.82M |
| See full company profile |
“>
is getting into motor financing through a partnership with Evolution Funding, “the UK’s largest used auto finance platform.”
Evolution, which provides digital finance solutions, helps finance 87k+ vehicles a year and supports 4k+ motor dealers.
Marshmallow will join Evolution’s lender panel, acting as a lender, not a broker. Car finance agreements are provided by Marshmallow Credit Services Limited.
In April, Marshmallow raised $90 million at a $2 billion valuation.
“Our mission has always been to make moving to the UK easier and more affordable. Expanding into motor finance is a natural next step. With over 10 million migrants in the UK, there’s a clear gap to address. We found that fewer than 1 in 10 of our New to the UK customers accessed secured car finance for their most recent car purchase, far below the equivalent rate for those born in the UK. This shows that most UK Newcomers are effectively locked out of the car finance market. Our partnership with Evolution Funding means we can deliver real impact at scale: helping dealers approve applications they might have previously rejected, while giving customers a smoother experience and better outcomes.” – Oliver Kent-Braham, Co-Founder and Co-CEO of Marshmallow.
“We’re proud to welcome Marshmallow to our lender panel. Their innovative approach aligns perfectly with our platform model. Importantly, it was our analysis and intelligence that helped shape this opportunity, proving the scale of the unmet need and ensuring we can deliver inclusive solutions responsibly. By combining Marshmallow’s unique credit models with our distribution, insight, and lender diversity, dealers now have an even greater ability to serve customers with complex credit profiles.” – Lee Streets, CEO at Evolution Funding.
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