Cycle insurer Laka has launched in the Netherlands.
The company recently closed a £2.1 million crowdfunding campaign, bringing the total funds raised to date to £7 million. The £2.1 million overfunded raised on Seedrs exceeded the £1 million investment target in just 21 hours of the campaign going live and attracted investors from 37 countries.
Support came from both private investors and Laka’s own customers, with over 50% of investors already insured with Laka.
Kelly Barnes, Laka’s VP marketing, said “We invited our customers, our Laka Collective, to not only invest and be a part of Laka’s growth, but also to invest in Laka’s mission; to inspire more people to enjoy cycling and keep cyclists moving.
“We wanted our collective to be a part of our journey, and we were blown away by their response. It’s wonderful to see that our collective shares our passion and backs our growth.”
In addition, Laka attracted the backing of several high-profile investors including VC firms LocalGlobe (Transferwise, Zoopla and Citymapper) and Creandum (Spotify, Klarna and Bolt) who both invested in Laka for a second time. Laka has also previously attracted investment and the involvement of former CEOs and executives from companies such as Rapha, Fitness First, Aviva and Deutsche Bank.
Laka has opened its Pan-European HQ in Amsterdam and launched Laka Collective Insurance in the Netherlands, with backing from the Dutch insurance giant Nationale-Nederlanden.
Tobias Taupitz, Laka CEO, added: “Laka has ripped up the rulebook to defy the traditional fundamentals of insurance with a fresh, smart model that injects personality and purpose into the industry.
“Our expansion to the Netherlands is the next step in building the largest collective of cyclists in Europe. The Dutch cycling culture is an example for many cities and countries and we are proud that from now on we will also be a small part of it.
“We want to provide cyclists in Europe with insurance that really helps them and is not just another monthly cost. We are looking forward to the further rollout of Laka from Amsterdam.”
Read the February issue of BikeBiz below: