Cycling is an activity that is ingrained in most people since most of us grew up riding a bicycle. Many of us still use bikes to commute to work or go on cycling excursions as a way to decompress, relax and just get some exercise. Since bicycles are also great for the environment, it only makes sense to use one whenever one gets an opportunity to do so. One thing that was missing from the equation was some security for bike riders, which the startup Laka fulfilled.
Founded back in 2017, the London-based bicycle insurance company has a fresh take on insurance. The company created a better insurance model by connecting passionate cyclists all over the UK to form a community and protect their bikes. The company has now announced securing €4.29 million in its latest funding round and here’s what you need to know about it.