# Marshmallow funding: rounds and investors > Marshmallow has raised $135M across 2 rounds since 2025. Investors include BlackRock, Portage Capital and Tribe Capital. Every round with its source. Source: https://millionrounds.com/company/marshmallow (Millionrounds; every figure on the page links to its filing or article) United Kingdom · [Growth startup](https://millionrounds.com/companies) # Who invested in *Marshmallow* 2 rounds we have observed, with the 7 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it. Financial Services Fintech Insurtech Valuation: $2.0B, Mar 2026 Follow Marshmallow and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fmarshmallow) Funding summary Updated 5 Nov 2026 **$135M** raised across 2 rounds since 2025, from 2 sources **$45M** Series C **$90M** Growth - **Latest round:** Growth, $90M Apr 2025 - **Led by:** Portage Capital - **Step-up i:** 2× - **Investors:** 7 (1 led) See who backed them ## The funding story Each circle is a round, placed by date and sized by amount. The line above is the running total. 2026 **$45M** Series C **$90M** Growth - **First round:** Series C, $45M - **Biggest round:** $90M [**Marshmallow** Finance 1 / 13 Their pitch deck **Marshmallow's pitch deck, 13 slides** Each slide read for what it argues, against the decks that raised at the same stage.](https://millionrounds.com/decks/marshmallow) ## The rounds - **Apr 2025** Growth **$90M** *2 new* *1 returning* [Portage Capital](https://millionrounds.com/fund/portage-capital) Lead [BlackRock](https://millionrounds.com/fund/blackrock) [Columbia Lake Partners](https://millionrounds.com/fund/columbia-lake-partners) Reported by TechCrunch - **Apr 2025** Series C **$45M** *5 new* [BlackRock](https://millionrounds.com/fund/blackrock) [Tribe Capital](https://millionrounds.com/fund/tribe-capital) [Passion Capital](https://millionrounds.com/fund/passion-capital) [Portage Ventures](https://millionrounds.com/fund/portage-vc) [Triple Point Ventures](https://millionrounds.com/fund/triple-point) Source recorded ## Who was in which round The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led. **Series C** 2025 **Growth** 2025 [BlackRock](https://millionrounds.com/fund/blackrock) [Portage Capital](https://millionrounds.com/fund/portage-capital) L [Tribe Capital](https://millionrounds.com/fund/tribe-capital) [Passion Capital](https://millionrounds.com/fund/passion-capital) [Portage Ventures](https://millionrounds.com/fund/portage-vc) [Triple Point Ventures](https://millionrounds.com/fund/triple-point) [Columbia Lake Partners](https://millionrounds.com/fund/columbia-lake-partners) ## Everyone who backed them [BlackRock](https://millionrounds.com/fund/blackrock) Asset manager **2** rounds [Portage Capital](https://millionrounds.com/fund/portage-capital) Hedge fund **1** round, led 1 [Tribe Capital](https://millionrounds.com/fund/tribe-capital) VC firm **1** round [Passion Capital](https://millionrounds.com/fund/passion-capital) VC firm **1** round [Portage Ventures](https://millionrounds.com/fund/portage-vc) VC firm **1** round [Triple Point Ventures](https://millionrounds.com/fund/triple-point) Asset manager **1** round [Columbia Lake Partners](https://millionrounds.com/fund/columbia-lake-partners) Private credit **1** round Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=marshmallow). ## Also claim to have backed them These 3 firms list Marshmallow as a portfolio company on their own websites, but no report of a round names them. They are the firms' own claims, kept apart from the rounds above. [Portfolio Ventures](https://millionrounds.com/fund/will-martin) VC firm Per its own site [Bridford Group](https://millionrounds.com/fund/bridford-group) VC firm Per its own site [Giano Capital](https://millionrounds.com/fund/giano-capital) Growth equity Per its own site ## Quick answers about Marshmallow ### Who invested in Marshmallow? Marshmallow's investors include BlackRock, Portage Capital, Tribe Capital, Passion Capital and Portage Ventures, and 2 more on record. Portage Capital led its latest round. ### How much has Marshmallow raised? Marshmallow has raised $135M across 2 rounds since 2025. ### When did Marshmallow last raise? Marshmallow's most recent round was a Growth of $90M in Apr 2025, led by Portage Capital. ### What was Marshmallow's biggest round? Its most recent round, $90M in Apr 2025, is also its largest on record. ### Who backed Marshmallow first? Marshmallow's first round on record, in Apr 2025, was backed by BlackRock, Tribe Capital and Passion Capital and 2 others. ### What stage is Marshmallow at? Marshmallow's latest named round is a Growth, in Apr 2025. ### Where is Marshmallow based? Marshmallow is based in the United Kingdom. ### Who led Marshmallow's rounds? Portage Capital led the Growth in 2025. ## Companies like Marshmallow In the same sector, and raised in the last eighteen months. [**Crediflow AI** $2.0M · Nov 2026](https://millionrounds.com/company/crediflow-ai)[**LO:TECH** $12M · Nov 2026](https://millionrounds.com/company/lo-tech)[**SAVA** $21M · Oct 2026](https://millionrounds.com/company/sava)[**Nous** $26M · Oct 2026](https://millionrounds.com/company/nous)[**Revolut** $1.3B · Oct 2026](https://millionrounds.com/company/revolut)[**Marrow** $2.0M · Oct 2026](https://millionrounds.com/company/marrow) ## Find investors like these Search every investor by what they have actually funded, then narrow to your stage and market. Free. Open the investor searchOr these rounds in the app