Caura raises £4 million

Lloyds Banking Group has invested £4 million in Caura , a motoring app designed to take the hassle out of car ownership.

Founded in 2018, Caura (team of ~35) provides an interface for all driving related payments, sending drivers relevant information and timely reminders to help them stay compliant. “By seamlessly managing car insurance, MOT, vehicle tax, tolls and city charges, Caura saves drivers valuable time and money.”

The investment from Lloyds Banking Group will support the development of new and existing products and services for both consumers and businesses including vehicle maintenance and UK-wide parking for both iOS and Android apps.

Future plans for Caura include developing embedded financial services such as motor loans and insurance, white-labeled payment solutions for automotive partners and self-service SaaS solutions to SME customers.

“Lloyds Banking Group and their proactive approach to innovation is incredibly exciting, and the cross-pollination of ideas between our respective teams will allow us to deliver an innovative suite of products and services that the market has not seen before to customers ranging from drivers through to vehicle manufacturers.” – Dr Sai Lakshmi, CEO and Founder of Caura.

Bottom Line: The startup works with several insurers.