London-based Laka raises €4.2 million to move HQ to Amsterdam and expand bicycle insurance across EU | EU-Startups
Summary
London-based startup Laka has announced raising €4.2 million for its bicycle insurance powered by community, to move its HQ to Amsterdam and expand across the rest of Europe. Its insurance product, which offers theft, damage, travel, race and emergency cover, is designed to help cyclists recover like a pro and to get back out on the road or trail as early as possible. Remus Brett, Partner at LocalGlobe, commented: “The beauty of Laka is it returns insurance to its pure, mutual heritage. These principles are over 300 years old, the difference being technology and increasing consumer awareness that traditional insurance models, with complex clauses, excesses and a painful claims process are fundamentally broken.” Similarly Creandum has invested in, amongst others, Spotify and Klarna. Laka truly improves the user experience 10x as well as lowers costs for its policyholders, all while providing a fair and transparent insurance coverage.