Twin brother's start-up is one of the UK's first Black-owned unicorn

Marshmallow, the digital car insurer becomes the second Black-owned unicorn in the UK.

A unicorn company or a start up, is a title that is given to a private business after it has been valued over $1 Billion dollars.

Marshmallow, the company that was founded back in 2017, announced today that they had raised over $85 million in their Series B round, allowing them to raise $100 million over a 12 month period.

Since creating the company, one of their aims has been to shake up the industry. By having this extra funding, they will continue to go in that direction.

The company is hopeful that within the next 2 years they will hire more people. At the beginning of 2021, they had less than 100 employees, whereas now they need more than 400 new people to start within the next 2 years.

Within their current staff there is nearly a 50:50 split of men and women working at the company. Marshmallow is also close to having 20% of their staff being Black or from other ethnic minorities.