Laka secures £6.5m debt facility from HSBC to fuel European expansion
HSBC Innovation Banking has provided the debt financing to support Laka in expanding its green mobility insurance platform across Europe.
Laka provides collective insurance for green mobility users and partners with major transport brands across Europe.
British green mobility insurer Laka has secured a £6.5m venture debt facility from HSBC Innovation Banking, bringing its total Series B funding to £14.1m. The fresh capital will be deployed to accelerate the company's expansion across Europe and support a disciplined acquisition strategy within the micromobility sector.
Founded in 2017, Laka replaces traditional fixed-rate insurance with a collective model where riders share monthly claim costs. The platform provides embedded insurance solutions for major brands including Decathlon, Brompton, and Gazelle, alongside recovery and recycling services.
The latest injection of funds follows a period of consolidation that saw Laka complete three strategic acquisitions over the past two years, absorbing Luko's e-scooter insurance assets, CoverCloud's bike insurance renewal rights, and French e-bike broker Cylantro.
Use of funds
- 01Expand into international markets
- 02Fund acquisitions
Investors
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About the company
Laka
Laka offers collective insurance for green mobility users and brands.