About Passion Capital
Passion Capital is a venture capital firm founded in 2011. It is primarily based out of London, United Kingdom. As of Sep 2026, Passion Capital is an active investor, having invested in 124 companies, with 7 new investments in the last 12 months. It primarily invests in Seed round in United Kingdom based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Consumer and Retail. Most recently it participated in the $***** Series A round of Marble Overall, Passion Capital portfolio has seen 4 unicorns and 21 acquisitions including key companies like Monzo, GoCardless and Tide. A lot of funds co-invest with Passion Capital, with names like Paul Forster sharing a substantial percentage of its portfolio. Passion Capital has team of 10 people including 7 partners.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 4 more
Portfolio Acquisitions
Portfolio Unicorns
Portfolio Soonicorns
Passion Capital's List of Top Investments
Passion Capital has a portfolio of 124 companies, including 4 unicorns. Their most notable investments are in Burrow and Vicampo.de.Their portfolio spans across United Kingdom, United States, Germany and 11 more locations. They have invested in Enterprise Applications, Consumer, Retail and 25 other sectors, across stages such as Seed, Series A and 4 more. Here is the list of top investments by Passion Capital:
1. Monzo
Provider of digital banking services including savings accounts and loans. This entity offers personal and business current accounts, credit products, and investment options. Customers manage finances through a mobile application that includes tools for budgeting, spending insights, and automated savings features. The service facilitates payments, transfers, and the management of pension funds. Security measures include card controls, biometric authentication, and transaction notifications. Additional offerings include insurance products and credit cards for personal use.
Key facts about Monzo
- Founded Year: 2015
- Location: United Kingdom
- Annual Revenue: £1M - £10M as on Mar 31, 2026
- Valuation: $*****
- Stage: Series I
- Total Funding till date: $2.37B
- Employee Count: 3,786 as on Mar 31, 2025
- Investors: GIC, CapitalG and 67 Others
- Latest Funding Round: Series I, Mar 20, 2025, $*****
- Highlight: Editors' Pick
2. GoCardless
Provider of automated bank payment collection and recurring billing services. This service enables businesses to pull payments directly from customer bank accounts. It supports one-off invoice payments and recurring billing cycles for subscriptions or installments. The system integrates with accounting software to facilitate automatic reconciliation of financial records. It includes functionality for managing failed payment retries and processing international transactions through bank networks.
Key facts about GoCardless
- Founded Year: 2011
- Location: London (United Kingdom)
- Annual Revenue: £100M - £500M as on Jun 30, 2025
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $540M
- Employee Count: 851 as on Aug 31, 2026
- Investors: Adams Street Partners, Kreos Capital and 26 Others
- Latest Funding Round: Series G, Feb 08, 2022, $*****
- Highlight: Acquired
3. Tide
Digital business banking platform. It provides entrepreneurs, freelancers, and small companies with a digital business account and a suite of financial tools. It enables users to manage payments, issue invoices, track expenses, and access bookkeeping and tax filing features designed to support compliance with local regulations such as Making Tax Digital. It also offers additional services including business loans, payroll tools, card readers, savings accounts, and company registration support, aiming to simplify day-to-day financial operations and reduce administrative overhead for small businesses.
Key facts about Tide
- Founded Year: 2015
- Location: London (United Kingdom)
- Annual Revenue: £100M - £500M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $181M
- Employee Count: 3,452 as on Aug 31, 2026
- Investors: TriplePoint Capital, MS&AD Ventures and 46 Others
- Latest Funding Round: Series C, Sep 22, 2025, $*****
- Highlight: Editors' Pick
4. Marshmallow
Provider of motor vehicle insurance policies for car and van. These insurance products offer financial protection against damage to vehicles and liability for injury or property damage caused to others. The policies include coverage for fire, theft, and vandalism. Customers manage their insurance documentation and policy details through a digital interface. The business provides support for claims and accident reporting.
Key facts about Marshmallow
- Founded Year: 2017
- Location: London (United Kingdom)
- Annual Revenue: £100M - £500M as on Dec 31, 2024
- Valuation: $*****
- Stage: Series C
- Total Funding till date: $161M
- Employee Count: 625 as on Sep 30, 2026
- Investors: Sagard, BlackRock and 57 Others
- Latest Funding Round: Series C, Apr 14, 2025, $*****
- Highlight: Editors' Pick
5. Lassie
Provider of preventive pet insurance services offering digital coverage. It is focused on preventive healthcare and wellness for pets. The platform offers insurance plans for dogs and cats, unlimited digital veterinary consultations, claims management, health tracking, wellness courses, vaccination reminders, and personalized pet care recommendations. It combines insurance coverage with preventive care incentives, allowing pet owners to reduce premiums through educational activities and healthy pet routines, while also providing multi-pet discounts and optional coverage for pre-existing conditions.
Key facts about Lassie
- Founded Year: 2020
- Location: Stockholm (Sweden)
- Stage: Series C
- Total Funding till date: $114M
- Employee Count: 153 as on Aug 31, 2026
- Investors: Felix Capital, Balderton Capital and 9 Others
- Latest Funding Round: Series C, Feb 12, 2026, $*****
- Highlight: Editors' Pick
Passion Capital's Year-on-Year Investment Trends
Passion Capital has invested in 124 companies over the last 15 years, with an average of 6 new investments annually in the last 10 years. In 2025, it made 12 investments, while as of Sep 2026, it has made 7 investments in this year. Its most recent first time investment was in Marble and most recent follow-on round was in Round Treasury.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 5 | 2 | 7 |
2025 | 8 | 4 | 12 |
2024 | 3 | 3 | 6 |
2023 | 5 | 4 | 9 |
2022 | 5 | 4 | 9 |
2021 | 10 | 6 | 16 |
2020 | 6 | 8 | 14 |
2019 | 5 | 6 | 11 |
2018 | 3 | 10 | 13 |
2017 | 7 | 10 | 17 |
Passion Capital's Investments by Stage
Passion Capital has made 84 investments in Seed stage with an average round size of $2.31M, 12 investments in Series A stage with an average round size of $9.8M and 3 investments in Series B stage with an average round size of $20.5M.Stage of entry | No. of Investments |
|---|---|
Seed | 84 |
Series A | 12 |
Series B | 3 |
Unattributed | 2 |
Angel | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Passion Capital's Investments by Sector
Passion Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Consumer, FinTech, Retail and Media & Entertainment. Notably, it has invested in 112 Tech companies, 75 Enterprise (B2B) companies, 71 Software companies and at least 50 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 53 |
Consumer | 31 |
FinTech | 30 |
Retail | 15 |
Media & Entertainment | 12 |
Others | 91 |
Note: We have considered here, only first round of investments
Passion Capital's Investments by Geography
Passion Capital has made most investments in United Kingdom (66), followed by United States where it has made 12 investments.Country | No. of Investments |
|---|---|
United Kingdom | 66 |
United States | 12 |
Germany | 7 |
Estonia | 5 |
Sweden | 4 |
Others | 10 |
Note: We have considered here, only first round of investments
Passion Capital's recent investments
Passion Capital has made 7 investments in 2026 so far. Marble and Backbone are the latest among them.Here are the most recent investments by Passion Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Sep 29, 2026 | France | Series A | 7331 | [+4] | |
Sep 03, 2026 | Belgium | Seed | 1541 | [+4] | |
Jul 03, 2026 | United Kingdom | Seed | 4831 | [+5] | |
Jun 03, 2026 | Bulgaria | Seed | 4677 | [+9] | |
Apr 28, 2026 | Czech Republic | Seed | 3669 | [+1] |
Unicorns in Passion Capital's Portfolio
Passion Capital has 4 unicorns in its portfolio - Tide, Marshmallow, Lendable and others. The most recent unicorn in their portfolio is Tide. It became a unicorn in 2025, 9 years after Passion Capital first invested in it.Here is a list of unicorns in Passion Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
79 | Provider of digital financial management tools for small business owners | 2015 | London | Series C | agvdlql | ||
77 | Provider of insurance products and financial services for personal vehicles | 2017 | London | Series C | zipusvc | ||
69 | Provider of digital personal loan services for various credit profiles | 2014 | London | Series B | pbherna | ||
82 | Provider of digital banking services including accounts savings and credit | 2015 | - | Series I | {tbck{c |
Acquired companies in Passion Capital's Portfolio
21 companies from Passion Capital's portfolio have been acquired. The most recent acquisition was GoCardless in Dec 2025 by Mollie for $*****.Here are Passion Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 11, 2025 | Feb 07, 2012 | Seed | 3715 | |
Feb 04, 2025 | Mar 12, 2015 | Seed | 8623 | |
Nov 01, 2024 | Mar 23, 2021 | Seed | 6032 | |
Oct 30, 2024 | Mar 03, 2014 | Series B | 2876 | |
Oct 12, 2023 | Aug 04, 2011 | Seed | 6076 |
Team profile of Passion Capital
Passion Capital has a team of 10 members including 7 Partners located in United Kingdom, United Arab Emirates and 1 more location. Passion Capital's team sits on the board of 8 companies.Here is a list of all team members in Passion Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Dubai | - | - | |
Partner | London | - | ||
Partner | London | - | ||
Partner | London | - | ||
Partner | London | - | ||
Partner | Bern | - | ||
Partner | London | - | - |
Co-investors of Passion Capital
Over the past 15 years, 531 investors have co-invested in Passion Capital's portfolio companies. This includes funds and angels.
- Invested before Passion Capital: Charlotte Street Capital, Techstars and 53 others have invested in rounds before Passion Capital. There are 2 companies where Charlotte Street Capital has invested before Passion Capital and 2 companies where Techstars has invested before Passion Capital.
- Top Co-investors of Passion Capital: 234 investors entered a company along with Passion Capital. These include investors like Paul Forster (4 companies).
- Invested after Passion Capital: A total of 242 investors have invested in Passion Capital's portfolio after their investments. Top Investors include Balderton Capital (4 companies), Google Ventures (3 companies) and MMC Ventures (3 companies).
Recent News related to Passion Capital
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Marble Raises €6.5M Series A to Expand AI-Powered Fraud Detection and AML Compliance PlatformThe SaaS News•Sep 29, 2026•Marble, SmartFin, Marble, Hexa and 2 others
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Belgian AI startup Backbone raises €4 million pre-Seed round for food quality and complianceEU-Startups•Sep 03, 2026•Backbone, PROfounders Capital Partners, Passion Capital, Pitchdrive
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Paypercut Raises €5 Million Seed Funding for Cross-Border Payments Expansion in Central and Eastern EuropeStartup Rise EU•Jun 03, 2026•Araya Ventures, Concentric, Passion Capital, Paypercut and 11 others
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Tapaya Raises €1M Pre-Seed Funding Led By Passion CapitalStartup Rise EU•Apr 28, 2026•BADideas.fund, DEPO Ventures, Passion Capital, Tapaya
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Passion Capital Closes €46M Seed Fund For AI And Fintech StartupsStartup Rise EU•Apr 21, 2026•Passion Capital
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Round Raises $6M to Build AI That Actually Runs Finance OperationsFinancial IT•Apr 13, 2026•Alstin Capital, Round Treasury, Love Ventures, Backed and 1 other
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Swedish Lassie fetches $75 million to scale automated claims and prevention-first pet careArcticStartup•Feb 12, 2026•Lassie, Inventure, Stena Sessan, Felix Capital and 2 others
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Lassie fetches €63.2 million in Series C fundingEU-Startups•Feb 12, 2026•Lassie, Inventure Growth, Felix Capital, Balderton Capital and 3 others
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Sequence Secures $20 Million to automate AI-powered BillingPYMNTS.com•Dec 18, 2025•Household, Sequence, Vor Capital, Firstminute Capital and 8 others
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London’s SAPI secures €69M to boost small business funding via paymentsSilicon Canals•Nov 19, 2025•SAPI, Hudson Cove Capital Management, Triple A – Capital & Finance, Passion Capital and 2 others
