5 years ago

Laka Raises €4.2 Million to Expand Bicycle Insurance Across Europe

  • Laka, a London-based insurtech startup, has raised €4.2 million in a Series A funding round led by LocalGlobe and Creandum

  • The investment will be used to expand Laka's bicycle insurance platform across Europe, with the company establishing its European headquarters in Amsterdam

  • Laka's unique community-based model, where 80% of user payments go towards helping fellow members, has attracted investors like Yes VC and prominent angel investors

  • The funding will also support the development of a new recovery and health product designed to help cyclists who have experienced injury or accident.

      • ProblemFinancial Services

      "Traditional insurance models for cyclists are complex, expensive, and have a painful claims process."

      Solution

      "Laka offers a community-based insurance product that is designed to help cyclists recover quickly and get back on the road. 80% of what users pay goes to help fellow members who damaged or lost their bike, and only 20% keeps Laka running."

      Covered on