Zego raises £33.1m in Series B funding led by Target Global to fund European expansion
The round was led by Target Global and will support workforce growth and expansion across Europe.
Zego is a flexible insurtech company that provides a range of insurance policies tailored for gig economy workers and emerging mobility services. The firm currently operates in the UK, Ireland and Spain.
Flexible insurer Zego has secured £33.1m in a Series B funding round led by Target Global to support its European expansion. The round also drew participation from TransferWise founder Taavet Hinrikus, Latitude, and existing backers Balderton Capital and Tom Stafford of DST Global.
Headquartered in London, the insurtech plans to use the capital to double its current workforce of 75 employees. Alongside bolstering headcount, Zego intends to build on its existing footprints in the UK, Ireland and Spain by moving into further European territories over the course of the year.
Since its inception, Zego has broadened its product suite to address the needs of modern transport services, including ride hailing and vehicle sharing. The company offers policies ranging from short duration cover to annual agreements.
From the founder
"When we built Zego from scratch three years ago, our mission was to transform the insurance sector by creating products which truly reflected the rapidly changing world of transport"
Sten Saar
Co-founder and Chief Executive at Zego
Use of funds
- 01Grow the team
- 02Expand into international markets
