6 years ago

Zego Raises $42 Million to Expand Across Europe

  • London-based insurtech startup Zego has raised $42 million in a Series B investment led by pan-European investment firm Target Global

  • The company provides pay-as-you-go scooter and car insurance for gig-economy workers, such as food delivery drivers

  • The investment will be used to for Zego's expansion across Europe and to increase the workforce from 75 to 150

  • Zego currently insures one-third of the U.K.'s food delivery market, largely through partnerships with Deliveroo, Just Eat and Uber Eats.

      • ProblemFinancial Services

      "Traditional insurance companies are not flexible enough to meet the needs of gig economy workers who often need insurance for short periods of time, like for a single delivery. "

      Solution

      "Zego offers pay-as-you-go insurance for gig economy workers, such as food delivery drivers, who need insurance for short periods of time. Zego's insurance is based on usage data, so drivers only pay for the time they are actually using their vehicle. "

      Covered on