Laka said to be launching a crowdfunding campaign on Seedrs

 Laka, a collective insurance policy for cyclists, is reportedly looking to launch a crowdfunding campaign through the Seedrs platform.

It is not clear how much the InsurTech hopes to raise, but the funds will be put towards the growth and development of its platform, according to a report from Crowdfund Insider. The campaign is expected to go late this week.

Laka, which was founded in the UK, is a collective insurance platform for cyclists, helping customers to get fairer policies. The company now insurers more than 10,000 bikes, valued at more than £26m.

According to the company, bike sales in the UK have been up 50% year-over-year and the pandemic has helped to increase the usage of bikes across Europe.

Its website also states that it is planning to launch a larger investment round in 2021 for venture capital and corporate investors.

The InsurTech previously raised €4.2m in a funding round in February this year from investors including LocalGlobe and Creandum. It raised the funds to support the growth across Europe and the creation of a new headquarters in the Netherlands.

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