Bought By Many overview

Bought By Many (also known as Many Pets) is a cat and dog insurtech. The digital pet insurer has over 600,000 members, and offers free video calls with registered vets through its partnership with First Vet. Its Complete policy has £15k of lifetime vet fee cover, and it has pre-existing conditions policy options.

Bought By Many, founded in 2012, began as a company which sought to harness the collective buying power of groups to negotiate insurance deals from insurers that would not otherwise be available to individuals. Customers signed up via the intuitive company website and select the coverage they desire. When a critical mass is reached they approached insurers to negotiate deals for their members, providing an average discount of 18%.

In 2015 the company surpassed 100,000 members and launched a SaaS platform in China with PingAn.

The following year the company announced a $9m Series A round, with investors including Octopus Ventures and Munich Re/HSB Ventures.

In 2017 the company announced it would be offering its own niche insurance lines backed by the balance sheet of Munich Re, and surpassed 300k members. The company plans to expand its offering to more niche lines which don’t appeal to larger insurers, whose systems capability doesn’t allow them to develop and launch products at speed.

In 2018 the insurtech completed its Series B round.

In 2019 Bought By Many partnered with FirstVet to offer pet insurance customers access to free vet video consultations via the FirstVet app.

In April 2020 the company announced it had closed £78.4m in growth equity from an investment led by FTV Capital. The raise follows a 150% growth in the company's cat and dog policies over the previous year. The funding will be used to continue growth, drive increased market share in the UK and further product development.

In October 2020 the company announced it would be changing its branding to Many Pets in markets outside of the UK.

Map showing the location of Bought By Many

London, United Kingdom

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Key people

Oke Eleazu Chief Operating Officer
Steven Mendel CEO & Co-founder
Guy Farley CTO & Co-founder
David Woodfield Head of Product and Partnerships
Derek Livingstone Head of Finance
Rob Devey Advisor
John Straw Advisor
Matthew McElhattan Board Observer
Matt McElhattan Board Observer
Malcolm Ferguson Non Executive Director
Steve Long Head of International
David Cochrane Head Of Technical Operations
Alexander King Head Of Customer Support
David Schapiro Non-Executive Director
Luisa Barile Chief Financial Officer
Charlotte Halkett Chief Commercial Officer