Green mobility insurer Laka is targeting profitability after raising £7.75m in Series B funding.
The London firm has evolved from a cycle insurer into a multi-vertical green mobility platform covering e-bikes, e-scooters and sustainable transport across nine EU markets and the UK.
Laka’s main offering is collective-driven insurance – with its flagship product being bike, e-bike and e-cargo bike insurance – alongside other products such as personal liability, health & recovery and solutions for commercial partners.
Laka uses a collective-driven insurance model to make insurance fair. Each month’s claims are shared amongst Laka’s collective of cyclists, so the monthly bill varies up to a guaranteed cap. It says that this means cyclists only pay for what’s needed, not what’s expected.
Laka says it has fixed what customers typically dislike about conventional insurance: long contracts, pages of fine print, and poor customer service. Whilst insurers benefit when a claim is rejected, Laka earns a success fee only when a claim is settled, and thus aligns interest with its customers.
The Series B funding round is led by Shift4Good and MS&AD Ventures, with support from existing backers LocalGlobe and Creandum. Porsche Ventures is also a backer.
The firm may seek to raise an additional extension round in 2025, focused on strategic investors, and will also soon complete a significant debt financing agreement in the coming months, which will fund its acquisition pipeline.
Over the last two years, it has snapped up Luko’s e-scooter insurance portfolio from Allianz Direct, adding 19,000 customers and deepening its focus on micromobility; secured the renewal rights to CoverCloud’s bike insurance portfolio; and swooped for French e-bike insurance broker Cylantro.
Laka’s commercial partners include Decathlon, Brompton, Gazelle, Riese & Müller, Tenways and Ribble.
“Reaching this milestone marks a pivotal moment in Laka’s journey – it’s a testament to the trust we’ve built with riders, retailers, and corporate partners across Europe,” said Tobias Taupitz, CEO and co‑founder.
“This new financing will enable us to deepen that trust, expand our category‑defining role in green mobility insurance, and build towards profitability, while pursuing further acquisitions that consolidate this fragmented market.”