8 years ago

Zego Secures €1.4 Million to Provide Pay-as-You-Work Insurance for Gig Economy Drivers

  • Zego, a UK-based provider of pay-as-you-go insurance for gig economy drivers, has raised €1.4 million in seed funding led by LocalGlobe

  • The company offers flexible insurance policies for drivers working for sharing economy companies like Deliveroo and UberEATS

  • Zego's insurance is designed to be affordable and flexible, allowing drivers to pay only for the hours they work

  • The funding will be used to accelerate tech development and expand the company's technical team.

      • ProblemFinancial Services

      "The problem is that traditional insurance models don't adapt to the new ways of working where many people only want to work for a few hours or days a week, and it can be expensive and difficult for drivers to buy a policy."

      Solution

      "Zego provides a flexible pay-as-you-go insurance product that empowers people to work in the way that suits their life and commitments, offering affordable coverage that is proportionate to the hours worked, and allows drivers to top up their account like an Oyster card or pay-as-you-go mobile."

      Covered on