Laka, a inexperienced mobility insurtech, goals to speed up its mergers and acquisitions technique with a £6.5m debt facility from HSBC Innovation Banking.
The group raised £7.7m in a Sequence B spherical earlier this 12 months and has added the debt funding to help its strategic acquisitions and enlargement plan.
Laka has accomplished three acquisitions up to now two years: French e-bike insurance coverage dealer Cylantro, the e-scooter insurance coverage portfolio of Allianz Direct’s Luko and CoverCloud’s bike insurance coverage renewal rights.
“We’re getting into the subsequent section of Laka’s journey, scaling from Europe’s best-known cycle insurer into the continent’s category-defining inexperienced mobility insurer,” stated Tobias Taupitz, co-founder and chief government of Laka.
“This partnership with HSBC Innovation Banking provides us the pliability to maneuver quick on strategic alternatives and to additional consolidate a fragmented market. In an area the place scale and belief matter most, Laka is clearly rising because the pure chief.”
Laka is an insurance coverage supplier for sustainable transportation, together with e-bikes and e-cargo bikes.
The corporate provides a collective-driven insurance coverage mannequin, whereby every month’s claims are shared amongst its collective of cyclists.
Analysis from McKinsey suggests the worldwide micromobility market will attain $340bn by 2030.
