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Founded Year

2017

Stage

Series B | Alive

Total Raised

$19.72M

About Laka

Laka is an insurtech startup providing cyclists with cycle accident liability insurance, cycling legal cover, and cycling discounts. For £1 month and no contract, cyclists receive third-party liability insurance for cycling. This protects them for personal liability in the event that they damage someone else's property or injure someone while out riding a bike. Laka customers also receive access to Laka Legal Services. Its cycling legal services help them claim compensation if they get involved in an accident that was not their fault. The company was formerly known as Insure A Thing and rebranded in August 2017. Laka was founded in 2017 and is based in London, England.

Headquarters Location

7 East Tenter Street

London, England, E1 8DN,

United Kingdom

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Research containing Laka

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Laka in 1 CB Insights research brief, most recently on Sep 7, 2022.

Expert Collections containing Laka

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Laka is included in 2 Expert Collections, including Insurtech.

I

Insurtech

4,224 items

Companies and startups that use of technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience

F

Fintech

12,439 items

Excludes US-based companies

Laka Patents

Laka has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

5/14/2017

6/19/2018

Conditions of the mucous membranes, Salivary gland pathology, Oral mucosal pathology, Woodworking, Fluid dynamics

Grant

Application Date

5/14/2017

Grant Date

6/19/2018

Title

Related Topics

Conditions of the mucous membranes, Salivary gland pathology, Oral mucosal pathology, Woodworking, Fluid dynamics

Status

Grant

Latest Laka News

E-Bike Insurer Laka Secures $8 Million And Scoops Up Rival

Oct 24, 2023

Freelance technology journalist covering the gig economy. Got it! Laka Laka, an insurtech start-up, has raised $8 million in new funding and acquired one of its smaller competitors in a push to expand deeper in Europe. London-based Laka provides insurance cover to e-bike owners in several European markets, both directly and through retailers like Decathlon. The round of €7.6 million ($8 million) is led by French mobility fund Shift4Good. Other investors in the funding include Autotech Ventures, Porsche Ventures, Creandum, Ponooc, and Elkstone Partners. The round is a mix of debt and equity. As well as the funding, the company has acquired Cylantro, a France-based e-bike insurance broker. Laka has built a bespoke insurance product that it says is a "collective-driven insurance model" where cover is based on the cost of claims. Cyclists pay no upfront premium and rather each month’s claims are shared amongst a collective of cyclists. According to the company, under this model, cyclists only pay for what they need. Chief executive Tobias Tauptiz said that Laka is expanding on the B2B2C (business-business-consumer) model of selling insurance by partnering with retailers to reach more cyclists. MORE FOR YOU "Over time we learned that there's additional appetite on the B2B2C side, working with big partners like Decathlon, one of the world's leading sports retailers, and we have been live with them for about two years now in various countries," he said. Tauptiz said that there’s a big opportunity in micromobility insurance to become the dominant player in Europe for insuring this still relatively new bread of transport. "I think there's a big wide space in the European market for what we call a green mobility powerhouse. You have lots of individual local brokers that service one individual country, but nobody has solved the pain point for these bigger partners who sell bikes across territories, across borders with lots of challenges and regulatory perspectives and the like," he said. "I think we've built a great infrastructure backbone to service a Decathlon for example in France, Belgium and the Netherlands, and do so now increasingly with more and more partners." This is one of the driving forces behind the acquisition of French start-up Cylantro, a another insurtech player offering a similar model to cyclists. The deal will give Laka a stronger foothold in the French market, Tauptiz said, with Cylantro chief executive Thomas Arnou joining Laka to lead the French business. "You can of course go about [expansion] organically or you can find the right partners inorganically with the same mission. Our mission is to service a lot of customers across the European continent and at the point of claim where our model is strongest and we can we provide the full benefit to our consumers," Tauptiz said. "By that I mean an increasing amount of our income is no longer insurance driven but auxiliary services. For example, when your bike gets stolen, I'll send your new bike to your doorstep, I'll source that for you. The same goes for salvaging damaged bikes and bike parts and giving the money back to the customer and other elements like that." Currently Laka operates in the UK, Netherlands, Belgium, France and Germany with eyes on Denmark and Austria ahead of a wider European push. Tauptiz said that Laka will consider potential acquisitions in these markets to bolster its growth. Several other firms and investors took part in Laka’s funding round including ABN AMRO Ventures, LocalGlobe, 1818 Ventures, Seedrs and Zwift co-founder Eric Min. Follow me on  Twitter .

Laka Frequently Asked Questions (FAQ)

  • When was Laka founded?

    Laka was founded in 2017.

  • Where is Laka's headquarters?

    Laka's headquarters is located at 7 East Tenter Street, London.

  • What is Laka's latest funding round?

    Laka's latest funding round is Series B.

  • How much did Laka raise?

    Laka raised a total of $19.72M.

  • Who are the investors of Laka?

    Investors of Laka include Creandum, Ponooc, Autotech Ventures, Porsche Ventures, Elkstone Partners and 11 more.

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