Debevoise & Plimpton Advised Portage On $90 Million Investment In UK Fintech Marshmallow

Debevoise & Plimpton Advised Portage On $90 Million Investment In UK Fintech Marshmallow

Debevoise & Plimpton LLP advised Portage, a global investment platform focused on fintech and financial services, on its $90 million investment in Marshmallow, a leading UK-based fintech company.

Portage makes the investment alongside BlackRock and Columbia Lake Partners. The raise comes three years after the business’ Series B, in which time it has almost doubled its valuation to just over $2 billion.

Portage is a global investment platform focused on fintech and financial services with over $3.3 billion under management, 65+ portfolio companies in 13 countries, and 20+ investment professionals across 4 countries.

Marshmallow is a leading UK fintech company focused on providing car and van insurance to those who have moved to the UK. It has now insured over 1 million drivers and has a turnover run rate of over $500 million, making it one of the largest fintech companies in Europe.

The Debevoise team was led by Drew Dutton (Partner), assisted by Mark Hume (Associate), and included Yiran Ji (Associate). Regulatory advice was provided by Katie Power (Associate).

Intellectual property matters were handled by Henry Lebowitz (Partner) and Dylan Sanders (Associate). Employment advice was provided by Sam Whitaker (Counsel).

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