Britain has produced hundreds of technology companies valued at more than $1 billion, but very few have been founded by Black entrepreneurs. That scarcity is what makes the stories of Zepz and Marshmallow significant, well beyond the valuations attached to them.
Marshmallow, the London-based insurance technology company co-founded by Black British twins Oliver and Alexander Kent-Braham alongside David Goaté, crossed the unicorn threshold in 2021 at a valuation of $1.25 billion according to TechCrunch. In June 2026, the company raised a further $90 million in Series C funding, taking its valuation to just over $2 billion. According to the company, it has insured more than one million drivers and reached a turnover run rate of $500 million.
Zepz followed a different route. Its roots trace back to WorldRemit, founded in London in 2010 by Somali British entrepreneur Ismail Ahmed alongside Catherine Wines and Richard Igoe. WorldRemit became part of the Zepz group, which also owns Sendwave. In 2021, Zepz raised $292 million at a $5 billion valuation. The company later raised a $267 million Series F round, with the International Finance Corporation investing $20 million in 2024.
