8 years ago

Zego Raises £6 Million for Gig Economy Worker Insurance

  • Zego, a London-based startup providing insurance for gig economy workers, has secured £6 million in Series A funding led by Balderton Capital

  • The round also saw participation from existing backers, including LocalGlobe and unnamed angel investors in the insurance sector

  • Zego's pay-as-you-go insurance model is designed for self-employed drivers, particularly those working in the food delivery sector

  • The company plans to use the new capital to expand its engineering team and launch additional insurance products, with a goal of international expansion.

      • ProblemFinancial Services

      "Gig economy workers, like food delivery drivers, need insurance but traditional insurance is too expensive for their part-time and sporadic work schedule."

      Solution

      "Zego offers pay-as-you-go insurance that charges by the hour, only when drivers are logged in to food delivery platforms, making it more affordable for gig workers."

      Covered on