Laka secures £1.2m in follow-on Series A funding from Porsche Ventures to drive European expansion
Porsche Ventures has backed the bicycle insurance provider as part of an extended funding round.
Laka provides collective-driven insurance and circular economy services for bicycles and e-bikes across Europe. The company partners with major retailers and manufacturers to embed insurance directly at the point of sale.
London-based bicycle insurance provider Laka has secured £1.2m in a follow-on investment from Porsche Ventures. The capital addition extends the company Series A round, which was previously led by Autotech Ventures with backing from Ponooc and ABN AMRO. Laka intends to deploy the fresh funds to accelerate its expansion across Europe and forge new partnerships within the e-mobility sector.
From the founder
"2021 truly depicted an inflection point for Laka as we moved from a pure direct-to-consumer play towards retail and commercial partnerships."
Tobias Taupitz
CEO at Laka
Investor perspective
"The increasing digitization and variety of sustainable mobility offers leads to the need for an innovative and customer-centric offer in the field of digital insurance. With the investment in Laka, we are pleased to support a strong team that is addressing the global insurance market with a unique, highly adaptable and digital business model, which focuses above all on the customer experience."
Patrick Huke
Head of Porsche Ventures, Europe & Israel, Porsche Ventures
Use of funds
- 01Expand into international markets
