Marrow raises £1.5m led by Insurtech Gateway with Seed X
This article covers Marrow, a fintech startup, which has raised £1.5m in a pre-seed funding round led by Insurtech Gateway with participation from Seed X, Leo Capital, Portfolio Ventures and angel investors. The funding will support engineering and commercial hires in London, help onboard additional product providers and advance Marrow’s open AMI Standards to enable regulated agent-mediated insurance sales affecting insurers, brokers and the UK fintech ecosystem.
Marrow, a fintech startup that lets AI agents quote, buy and service insurance on insurers’ terms, has raised £1.5 million in a pre-seed funding round led by Insurtech Gateway, with participation from Seed X, Leo Capital, Portfolio Ventures and angel investors. The funding will pay for engineering and commercial hires in London, help onboard more product providers and advance Marrow’s open AMI Standards for agent-mediated insurance sales.
Why it matters
AI assistants are moving quickly from answering questions to completing purchases, and that shift intersects directly with regulated insurance sales. Insurers face a dilemma: block agents and risk losing customers, or allow them and cede visibility and control over quotes and evidence of what was shown. That tension has financial consequences — for example Mony Group’s share price dropped 13 percent in a day in February after a US comparison site surfaced motor quotes inside ChatGPT.
Marrow proposes a middle path: a protocol layer that lets insurers keep control of pricing, underwriting and customer experience while allowing agents to transact. If the approach works, it could become an infrastructure standard for regulated distribution in the way card rails work for payments.
Inside the product
Marrow provides a single protocol that insurers and brokers map their pricing and policy systems to once, without modifying core systems. From then on, any agent—regardless of which assistant created it—accesses products through that protocol. Marrow governs the sale in the middle: it defines what an agent can ask, which answers count for the quote, what must be presented to the customer before a price is issued, and it maintains a record of the interaction.
In March 2026 Marrow entered production with Aviva after completing procurement, information security, legal and data protection reviews. Since then it says it has signed additional carriers, brokers and managing general agents. In September Marrow published the AMI Standards, an open, machine-readable contract describing how an agent requests, compares, discloses and binds a regulated policy; insurers and brokers across five lines of business are reviewing the draft. The new funding will support engineering hires and the working group effort to take AMI to a full first version.
Who are the investors?
The round was led by Insurtech Gateway, with participation from Seed X, Leo Capital, Portfolio Ventures and a group of angel investors.
Insurtech Gateway led the deal on the basis that Marrow combines early production proof with a Tier-1 insurer and a protocol-first approach that addresses a regulatory gap in agent distribution. Seed X highlighted the same production milestone as a strong signal at an early stage. Portfolio Ventures emphasised founder execution in closing a major insurer early in the company’s timeline.
In the announcement, Dom Nolan, Partner at Insurtech Gateway, said:
We’re excited to be supporting Marrow leading their fundraise. As the shift to agentic commerce creates a new infrastructure layer for regulated products, insurance is one of the clearest places where that layer is needed. Marrow has a rare combination of founder-market fit, production proof with a Tier-1 insurer, and a regulatory and protocol head-start that is difficult to replicate through software alone.
In the announcement, Mathias Jaeggi, Partner at Seed X Liechtenstein, said:
AI distribution has moved from a future concern to a board-level priority for insurers, but there is still no regulated way for an agent to quote and bind a policy. Marrow is solving exactly that, and being live in production with the UK’s largest insurer at pre-seed stage is a very high bar. We are delighted to support Tim and Adam on this journey.
In the announcement, Will Brooks, Co-founder at Portfolio Ventures, said:
PV is delighted to be investing in Marrow’s pre-seed. Agentic commerce is coming and Marrow will be the infrastructure layer for regulated insurance. Tim has already proved so much in such a short space of time; there aren’t many founders that can close a tier-1 insurer so early in their journey and we’re excited for their progress in the next few years.
If you're researching potential backers in this space:
- Explore our list of fintech venture capital firms in the UK
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Founder perspective
The company says the funding will accelerate hires and product development in London and push the AMI Standards to a full version with its working group. Tim Graham, Co-founder and CEO, framed the market shift and Marrow’s role in it.
In the announcement, Tim Graham, Co-founder & CEO at Marrow, said:
You don’t need to look closely to see that agents are driving a rapidly increasing number of insurance purchasing decisions and interactions. We think that’s great, and that can allow a really consumer-centric interaction, whilst creating a massive opportunity for insurers. However, these are still regulated insurance sales: there’s a high bar to clear to be sure that the consumer is safe and these interactions are robust. Marrow’s solving that problem by building the platform that enables insurance product providers to expose their products safely, and we’re working with the most forward-looking operators in the space to make sure they’re set-up to win in the agent economy. What was theory in this space six months ago is now reality, so we’re massively excited to have closed this round and be able to help our partners leap forward and meet their customers where they are.
The bigger picture
The funding comes as major tech players push agentic capabilities into the mainstream. Meta’s Muse, which launched in the US on 8 September and moved into insurance bill interactions, became the number one app on the US App Store within ten days. OpenAI’s Dots followed on 29 September. Consumer Intelligence data cited by Marrow suggests 18.7 percent of UK home insurance shoppers used an AI tool when shopping, compared with 14.5 percent who used a broker. Those figures indicate AI tools are already influencing distribution channels.
For insurers the question is how to adapt business processes and regulatory controls to a new class of intermediaries. Marrow’s protocol approach is one attempt to provide a regulated path for agent-driven sales while preserving insurer control.
This deal underscores continued appetite among UK fintech investors for infrastructure plays that tackle compliance and distribution risk. If Marrow can translate its Aviva production proof and the AMI Standards into broadly adopted rails, it will shape how agents interact with regulated products across the UK and Europe.
They've invested in Marrow
Get to know these fintech investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Insurtech Gateway( ) Insurtech Gateway is a specialist insurtech incubator investing early in mission... London  | ||||
 Seed X( ) Seed X is a European-focused venture capital firm based in Liechtenstein, specia... Liechtenstein, Liechtenstein | ||||
 Leo Capital( ) Singapore, Singapore | MarrowTERN GROUP | |||
 Portfolio Ventures( ) The PV Angel Fund is an early-stage investor focusing on fintech, SaaS, and vert... London | ||||
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