Bought By Many in a £78.4M funding round backed by FTV Capital

Bought By Many, a London, UK-based pet insurance provider, raised £78.4 million ($96.5M) in growth equity funding.

The money was raised from investors led by FTV Capital, with participation from existing investors CommerzVentures, Munich Re Ventures, and Octopus Ventures. In conjunction with the funding, Mike Vostrizansky of FTV Capital, will join Bought By Many’s board.

The proceeds will be used to expand its business reach in UK and abroad following the launch in Sweden.

Bought By Many, founded in 2012 by Steven Mendel (CEO) and Guy Farley, provides pet insurance products underwritten by Great Lakes Insurance SE. The company says it insures over 200,000 pets and has a team of 154 people across London, Haywards Heath, Birmingham, and Stockholm.