Embedded InsurTech Laka gains significant funding from Achmea Innovation Fund

Embedded InsurTech Laka gains significant funding from Achmea Innovation Fund

Achmea Innovation Fund has recently placed a significant investment in Laka, a pioneering InsurTech startup based in London.

Founded in 2017, Laka is distinguished for its innovative insurance solutions specifically tailored to e-bike riders and cyclists across multiple European nations including the Netherlands.

The investment amount, though undisclosed, marks a strategic enhancement to Achmea’s portfolio in smart and sustainable mobility. It aligns seamlessly with the company’s ongoing pursuits in innovative mobility solutions.

Laka, which presently insures over €140m in bicycles and e-bikes, is set to leverage this financial injection to deepen its market penetration and enhance its product offerings.

Laka operates on a unique collective-driven insurance model. This model pools cyclists who share the risk of insuring their bicycles, with premiums adjusted monthly based on the actual claims made, ensuring costs are kept fair and proportional to the risks incurred. This approach not only promotes a community among cyclists but also aligns costs directly with the benefits they receive.

The funds from this investment will be utilised to expand Laka’s footprint across Europe, focusing on enhancing their embedded insurance products. This includes partnerships with major retailers and brands like Gazelle, Urban Arrow, Decathlon, and Riese & Müller, integrating insurance directly at the point of sale, which simplifies the process for consumers.

Achmea Innovation Fund manager Katharina Maas commented on the investment, “In a world where the demand for green and healthy transport options continues to rise but electric bicycles are also becoming increasingly expensive, Laka is at the forefront with innovative solutions. Their innovative ’embedded’ insurance model ensures that bicycles are insured directly from the manufacturer. But Laka does more; They also offer services to recover stolen bikes, and they help cyclists get back on the road quickly after theft or damage.”

Laka CEO Tobias Taupitz also expressed enthusiasm about the new partnership, “We’re excited to welcome leading Dutch insurer Achmea to join Laka’s ride. Their investment is testament to the strength of our embedded proposition and will support Laka’s growth across Europe in Green mobility. We look forward to working with the Achmea Innovation Fund team and the broader organisation to create outstanding customer value. In addition, we welcome Henrieke Hoftijzer to join our board.”

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