ManyPets acquires Digital Edge
Initially launching as Bought By Many in the UK in 2017, ManyPets expanded into Sweden in 2019, before crossing the Atlantic in 2021
Pet insurance company ManyPets Inc. has announced the acquisition of Digital Edge Insurance Company, a US-based carrier, following regulatory approval.
The acquisition comes as ManyPets continues its roll out in the US, having launched in the market almost two years ago.
ManyPets’ US policies are currently solely underwritten by Accredited Surety and Casualty Company, Inc. The acquisition of Digital Edge will reportedly enable the wider ManyPets group to underwrite its own policies, giving ManyPets more flexibility in the US market as it continues its growth there.
After its launch in March 2021, ManyPets is live in 85% of the pet insurance market in the USA, with further expansion planned to reach pet parents across the states. The ManyPets group now insures more than half a million pets globally.
In addition to its insurance policies for Accident and Illness, which cover veterinary costs stemming from illness and injury, ManyPets US offers an optional non-insurance Wellness Plan for routine and preventative care.
Steve Long, CEO of ManyPets US said: “Our latest investment marks the next stage of growth in the US market and provides an increased level of flexibility as we expand our footprint and evolve our proposition at speed.
“The growth we have achieved in just 18 months is phenomenal and testament to our model which we’ve seen take off in the UK and Sweden. The addition of Digital Edge’s coverage will allow us to continue to deliver against our ambitious growth plans to reach more pets across the states.”
The purchase of Digital Edge follows the acquisition of VetBox in the UK at the latter end of 2021, best-known for its monthly flea and worming home delivery services.
Initially launching as Bought By Many in the UK in 2017, ManyPets expanded into Sweden in 2019, before crossing the Atlantic in 2021.
