Mobility insurtech firm Laka raises €7.6M and acquires French e-bike insurance broker Cylantro
Summary
Mobility insurtech firm Laka has acquired French e-bike insurance broker Cylantro. Previous angel investors include Zwift CEO and co-founder, Eric Min.Laka provides insurance and circular economy services to e-bike riders, e-cargo bike riders, cyclists and companies. It uses a collective-driven insurance model - each months claims are shared amongst Lakas collective of cyclists, so the monthly bill varies up to a guaranteed cap.The acquisition of Cylantro boosts Lakas expansion in France where it already has an existing partnership with sports retailer Decathlon. Cylantros CEO and co-founder Thomas Arnou joins Laka to lead in France.E-bikes are expected to outgrow car sales by 2025 in Europe and we see huge potential in France, where the sales of bikes and e-bikes are growing at double-digits. We are also excited to welcome Shift4Good as an investor, and we look forward to working with them to expand our commitments to decarbonising mobility, by making it easier for consumers to insure and protect their bikes or e-bikes, says Tobias Taupitz, CEO and co-founder of Laka.