Laka (laka.co), a leading cycle insurer, has launched in the Netherlands. Fuelled by a coronavirus cycling revolution and a personal mobility market that is expected to hit £100B in Europe by 2025, Laka is uniquely poised to capitalise on its success. The insurtech scale-up is now accelerating its international expansion and evolving its innovative, collective approach to insurance for cyclists across Europe.
To fuel this growth, Laka recently closed a £2.1M crowdfunding campaign, bringing the total funds raised to date to £7M. The £2.1M overfunded raise on Seedrs exceeded the £1M investment target in just 21 hours of the campaign going live, and attracted investors from 37 countries, proving that the collective model has global appeal. Support came from both private investors and Laka’s own customers, with over 50% of investors already insured with Laka.
On the outstanding level of customer investment, Kelly Barnes, Laka’s VP Marketing says, “We invited our customers, our Laka Collective, to not only invest and be a part of Laka’s growth, but also to invest in Laka’s mission; to inspire more people to enjoy cycling and keep cyclists moving. We wanted our collective to be a part of our journey, and we were blown away by their response. It’s wonderful to see that our collective shares our passion and backs our growth”
In addition, Laka attracted the backing of several high-profile investors including VC firms LocalGlobe (Transferwise, Zoopla and Citymapper) and Creandum (Spotify, Klarna and Bolt) who both invested in Laka for a second time. Laka has also previously attracted investment and the involvement of former CEOs and executives from prestigious companies such as Rapha, Fitness First, Aviva and Deutsche Bank.
There could be no better place than the Netherlands to sell bike insurance, as cycling is almost a religion and an integral part of Dutch life.
For further information about Laka, visit the website at laka.co