Laka, a London-based insurtech enterprise specialising in inexperienced mobility, has introduced a Sequence B fundraise of £7.7m.
The agency supplies insurance coverage companies throughout a wide range of sustainable transport strategies, with its flagship product overlaying bikes, e-bikes and e-cargo bikes.
Laka provides a collective-driven insurance coverage mannequin, that means every month’s claims are shared amongst its collective of cyclists.
With an preliminary concentrate on cyclists, Laka has extra not too long ago been increasing to a multi-vertical inexperienced mobility insurance coverage platform, with protection now together with e-scooters.
Now backed by Sequence B financing, the corporate is making a push in the direction of profitability. Alongside the highway to revenue, Laka is planning a “important debt financing settlement” within the coming months to fund its acquisition pipeline and is contemplating in search of a further extension spherical in 2025.
“Reaching this milestone marks a pivotal second in Laka’s journey – it’s a testomony to the belief we’ve constructed with riders, retailers, and company companions throughout Europe,” mentioned Tobias Taupitz, co‑founder and chief government of Laka.
“This new financing will allow us to deepen that belief, broaden our class‑defining position in inexperienced mobility insurance coverage, and construct in the direction of profitability, whereas pursuing additional acquisitions that consolidate this fragmented market.”
Laka operates within the UK and throughout 9 markets within the European Union.
Its Sequence B spherical was co-led by Shift4Good and MS&AD Ventures.
“As sustainable transport and micro‑mobility broaden throughout Europe, the necessity for seamless, buyer‑centric insurance coverage has by no means been larger,” mentioned Matthieu de Chanville, founding companion at Shift4Good.
“Laka is positioned to steer this area, aligning pursuits between riders, retailers, and insurers, and tackling the fragmented nature of the market head on. We’re excited to help their subsequent chapter of progress and to assist unlock the total potential of the inexperienced mobility revolution throughout the European continent.”
Further funding got here from Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Companions, Creandum, LocalGlobe, 1818 Ventures, and Republic (previously Seedrs).
Learn extra: British bike insurtech Laka pedals into Germany
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