Petfins

Pet insurance comparison and financial planning platform for South Korean pet owners

Specialty Solutions Growth Series A

Overview

Petfins is a pet insurance comparison and aggregation platform for consumers in South Korea, founded in 2019. The platform enables pet owners to compare and purchase pet insurance products across multiple Korean carriers, addressing a market where insurance awareness is high but actual adoption remains low -- driven primarily by concerns about premium costs. Petfins was developed in collaboration with the Ministry of Strategy and Finance, the Ministry of Agriculture, the Non-life Insurance Association, and veterinarians' organizations.

The platform is delivered as a mobile application (Google Play) and integrates with major South Korean insurers including Samsung Fire & Marine Insurance, DB Insurance, Meritz Fire & Marine Insurance, Hyundai Marine & Fire Insurance, and KB Insurance. A core differentiator is a breed-based cost prediction engine that uses proprietary big data analysis to forecast pet care expenses and generate customized insurance recommendations for individual pet profiles.

Petfins raised approximately USD 452K across a seed round in 2020 and a Series A in 2021, with backing from Korea Credit Guarantee Fund, Korea Social Investment Foundation, iAccel, and InfoBank. The company participated in the Seoul Fintech Lab Global Accelerator Program in 2022 and operates in a South Korean pet insurance market that reached USD 129.1M in 2024, with projected growth to USD 380.4M by 2030.

Products & Services

Pet Insurance Comparison Platform

A mobile-first aggregation service that allows pet owners to compare coverage options and pricing across multiple Korean insurers in a single interface. Users can review and purchase policies from Samsung Fire & Marine Insurance, DB Insurance, Meritz Fire & Marine Insurance, Hyundai Marine & Fire Insurance, and KB Insurance.

Key Features

Multi-carrier price comparison across major Korean insurers
Simplified policy selection and sign-up flow
Integration with five major non-life insurance carriers

Target Users: Pet-owning consumers in South Korea

AI-Powered Pet Care Cost Prediction

A proprietary breed-based analytics engine that predicts anticipated pet care costs using big data analysis. The system generates customized financial recommendations based on the pet's breed and individual profile.

Key Features

Breed-specific cost modeling using big data
Customized insurance recommendations based on pet profiles
Data-driven affordability insights for pet owners

Target Users: Pet owners seeking personalized insurance guidance

At a Glance

Founded: 2019
Headquarters: Seoul, South Korea
Employees: 1-10
Funding: Series A

Category & Focus

Category: Specialty Solutions
Subcategories: Pet Insurance Comparison Insurance Aggregation Consumer Insurance Platform
Insurance Verticals: Specialty/E&S
Target Customers: Consumers