Laka, the award-winning insurer for cyclists and green mobility users, has landed a 6.5m Venture Debt Facility from HSBC Innovation Banking, bringing the total Series B funding to £14.1m.
The new funding, which follows a a £7.6m Series B equity round earlier this year, will accelerate Laka’s European expansion and mergers and acquisitions strategy, consolidating its presence in a fragmented mobility insurance market.
It aims to capitalise on Europe’s rapidly growing micromobility sector, projected to expand from around $60bn in 2022 to $140bn by 2030, according to McKinsey.
The firm provides insurance solutions for e-bikes, e-scooters, and sustainable mobility, operating across nine EU markets and the UK.
Its collective-driven model ensures riders only pay for what they actually use, offering zero excess, transparent pricing, and a fairer approach to claims.
Laka’s platform extends beyond traditional insurance, offering recovery and replacement services for stolen e-bikes and e-scooters, parts salvaging and recycling to reduce emissions, and embedded commercial solutions for manufacturers and retailers. Strategic partnerships with Decathlon, Brompton, Gazelle, Riese & Müller, Tenways, and Ribble further support this integrated approach.
Tobias Taupitz, CEO & Co-Founder of Laka, said, “We’re entering the next phase of Laka’s journey, scaling from Europe’s best-known cycle insurer into the continent’s category-defining green mobility insurer. This partnership with HSBC Innovation Banking gives us the flexibility to move fast on strategic opportunities and to further consolidate a fragmented market. In a space where scale and trust matter most, Laka is clearly emerging as the natural leader.”
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