GCO Ventures launches Musky, a start-up revolutionising pet care

"Musky offers comprehensive insurance for dogs and cats that allows you to freely choose the veterinarian and prioritises preventative care, covering vaccinations and an annual pet check-up"

GCO Ventures, GCO's corporate venturing vehicle, has launched its third venture: Musky (www.Musky.es), a start-up focused on providing comprehensive coverage for pets. The digital platform was created with the aim of improving the well-being and quality of life of dogs and cats through insurance with three key pillars: preventative health care, financial coverage of veterinary expenses caused by accidents or illnesses, and civil liability for damages caused to third parties.

So, if the insured pet has an accident or becomes ill, the start-up offers reimbursement of 80% of veterinary expenses, up to €3,000 per year, including veterinary visits to the customer's chosen veterinarian, diagnostic tests, treatments (including cancer treatments), cures, and the medication necessary to treat the accident or illness in question. If hospitalisation or surgery is necessary, both will be covered by the policy. Complementary treatments, such as physical therapy, chiropractic, hydrotherapy, and behavioural therapy, will also be reimbursed at 80% of the cost.

The start-up's value proposition includes preventative care for pets through 100% reimbursement of veterinarian-prescribed vaccines, as well as the cost of their annual health check-ups.

If the pet causes damage to third parties, Musky offers compensation for material damages or personal injury, up to €150,000 per year; and coverage for defence and claims of criminal proceedings for civil liability.

A digital and easy-to-use service

Musky's platform, accessible through its website and mobile app for customers (available for iOS and Android), allows users to conveniently manage all their pet information, check policy details, and quickly and easily request reimbursements, which will be credited to the customer's account within 72 hours.

Through a fully digital approach, Musky's insurance provides the peace of mind of being able to cover both expected and unexpected expenses arising from pet care.

The service also includes personalised advice from the Musky team, both during the policy purchase process and afterwards, to address any questions you may have about coverage or how to use the insurance. This support guarantees a clear, personal experience tailored to the needs of each customer.

Currently, it is estimated that there are 15.9 million dogs and cats in Spain (ANFAC), which means that almost half of all households live with a pet. On the other hand, according to data compiled by GCO Ventures, the financial cost of caring for a pet represents a significant strain on the owners' finances, especially when it comes to unforeseen expenses, although these are generally assumed due to the importance pets represent in their lives. In this sense, the OCU points out that the average annual cost of keeping a dog is €1,131; while for cats it is about €986 per year.

In this regard, Musky's Chief Revenue Officer, Miquel Farré, states that the start-up "was born with the desire to guide and support owners with the care of their pets, especially in a context where animal welfare is very important in our society today".

In the words of María José Álvarez, CEO of GCO Ventures, "with the launch of Musky, GCO Ventures is pursuing its goal to support innovative companies that will make a difference in their sector, in this case one that is clearly expanding, such as pet care".

Commitment to innovative projects

GCO Ventures, GCO's corporate venturing vehicle, was launched in 2023. It contributes to the long-term growth of GCO by identifying, building and launching new businesses that answer the needs of society. It does so by selecting projects in strategic areas for GCO, which provide a market opportunity to create new companies, such as home and health.

Since its creation, three ventures have already been launched on the market, presenting innovative solutions that respond to society's needs in the areas of home and pets. The first venture launched on the market was Adecua, a start-up dedicated to adapting the homes of seniors to their needs and their degree of mobility and cognition. The second was Vivara, a start-up offering the safe and guaranteed rental of a home for private owners. The latest and most recent is Musky, which offers veterinary and civil liability coverage for pets.