Laka raises $10.4 million

Laka, a London-based bicycle insurance provider, has closed a $10.4 million Series B round co-led by Shift4Good and MS&AD Ventures, with participation from Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners, Creandum, LocalGlobe, 1818 Ventures, and Republic.

Laka’s main offering covers bikes, e-bikes and e-cargo bikes, alongside other products such as personal liability, health & recovery and solutions for commercial partners. The startup has partnerships with retailers, bike brands and leasing platforms across nine EU countries and the UK.

Earlier this year, Laka acquired Luko’s e-scooter insurance portfolio which had 19,000 customers. The new funding will enable Laka to work towards profitability. The startup hasn’t published its 2024 financial results, but it reported losses in the previous two years.

“Reaching this milestone marks a pivotal moment in Laka’s journey – it’s a testament to the trust we’ve built with riders, retailers, and corporate partners across Europe. This new financing will enable us to deepen that trust, expand our category‑defining role in green mobility insurance, and build towards profitability, while pursuing further acquisitions that consolidate this fragmented market.” – Tobias Taupitz, CEO and Co‑Founder, Laka.

“The micro‑mobility market is evolving rapidly, presenting huge opportunities for platforms that can unify and redefine its insurance offerings. Laka has demonstrated an impressive ability to integrate acquisitions and build a collective‑driven approach that benefits both riders and businesses. We’re proud to support the team as they scale across Europe and help drive the shift towards a cleaner, more connected transport ecosystem.” – Jack Toyama, President & Managing Director, MS&AD Ventures.