As the cycling boom begins to fizzle out, it makes sense for insurance brands active in this sector to consolidate and develop partnerships that deliver cost-effective insurance products. Riders are split into tribes; e-commuters, kids bikes, sportive and road bike enthusiasts, summer leisure trail riders. One size insurance won’t fit all.
Here’s some news from Browne Jacobson as Laka acquire Cylantro;
UK & Ireland law firm Browne Jacobson advised European Green Mobility insurtech Laka on its latest fundraise and supported its acquisition of French e-bike insurance broker, Cylantro.
The new investment round was led by Paris-based impact investment fund Shift4Good and will be used to amplify Laka’s efforts to enable more customers to transition into more environmentally friendly modes of transport and ramp up its presence in the French market.
Laka provides a range of insurance and circular economy services to e-bike riders, enthusiast cyclists and companies – insuring over £100 million worth of bikes and e-bikes. Its services are centred around value-add to its customers, tying in stringent ESG targets.
The Browne Jacobson team was led by London based Corporate Partner Jon Snade who was assisted by specialist lawyers across the firm including Harry Pearson, Shania Sood, and Kim Pons. The acquisition of Cylantro was led by Jens Förderer and Mathias Schmid of French law firm Klein Wenner, with Browne Jacobson providing English legal advice.
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