Series B24 October 2023

Laka secures £6.6m led by Shift4Good to expand its green mobility insurance platform

The funding round was led by Shift4Good to support the company's growth and recent acquisition of Cylantro.

£6.6MSeries B

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.

Laka has secured £6.6m in fresh funding to reinforce its position in the green mobility sector. The equity and debt financing round was led by Shift4Good, with participation from a broad group of existing backers including Autotech Ventures, Porsche Ventures, Ponooc, ABN AMRO Ventures, Creandum, 1818 Ventures, and Elkstone Partners. The capital follows Laka's acquisition of French e-bike insurance broker Cylantro and will support the company's broader expansion across European markets.

Operating across five countries, Laka provides collective-based insurance and ancillary circular economy services such as parts salvage and bike recovery. The firm plans to use the latest capital to deepen its green mobility offerings as e-bike adoption accelerates across the continent.

From the founder

"We’re excited to welcome onboard the Cylantro team to Laka. Thomas and his team have built up a fantastic offering in France, and we can’t wait to ramp up our presence across the country. E-bikes are expected to outgrow car sales by 2025 in Europe and we see huge potential in France, where the sales of bikes and e-bikes are growing at double-digits. We are also excited to welcome Shift4Good as an investor, and we look forward to working with them to expand our commitments to decarbonising mobility, by making it easier for consumers to insure and protect their bikes or e-bikes."

Tobias Taupitz

CEO at Laka

Investor perspective

"It is a great honour to assist Laka in accelerating within the highly promising market of smart mobility. Laka returns insurance to its pure, mutual heritage. Laka’s members and their shared interests incentivise positive behaviour which in turn benefits the entire community. We have full confidence in the team, their tech stack, and the momentum of Laka. We are committed to providing substantial support in both Europe today and Asia tomorrow to further their mission of decarbonizing road mobility. Creating global leaders through innovative technology isn’t just our mission; it’s a daily passion, as exceptional entrepreneurs are pivotal in driving a sustainable economy."

Matthieu de Chanville

Co-founder and Managing Partner, Shift4Good