Bikmo raises £3.4 million

UK-based insurance startup Bikmo has raised £3.4 million in a Series A extension round led by Puma Private Equity, with participation from Development Bank of Wales and Hiscox.

Founded in 2014, Bikmo offers bike and travel insurance, claiming to provide coverage to over 75k riders in the UK, Ireland, Germany and Austria.

The new funds will help the startup develop its API.

“We’re stoked to close this round and onboard Puma Private Equity as we accelerate growth in the UK and Europe, the next big step in our mission to protect the world’s riders. Working with a company aligned with our values and their depth of experience in international growth across a wide range of technology-enabled sectors is a perfect match for Bikmo. The investment will allow us to invest into the people and technology we need to both support and protect our existing rider base and trusted partners, as well as exciting growth projects.” – David George, CEO, Bikmo.