Laka, a London-based mobility insurance firm, has secured $10.4M (nearly €8.90M) in a Series B funding round co-led by Shift4Good and MS&AD Ventures.

The round also included participation from Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners, Creandum, LocalGlobe, 1818 Ventures, and Republic (formerly Seedrs).

Matthieu de Chanville, Founding Partner at Shift4Good, says, “As sustainable transport and micro‑mobility expand across Europe, the need for seamless, customer‑centric insurance has never been greater. Laka is positioned to lead this space, aligning interests between riders, retailers, and insurers, and tackling the fragmented nature of the market head-on.”

“We’re excited to support their next chapter of growth and to help unlock the full potential of the green mobility revolution across the European continent.”

Capital utilisation

Loki provides coverage for e-bikes, e-scooters, and other transport options across nine EU countries and the UK.

The company plans to use the funds to work towards profitability and may pursue an additional funding round in 2025, targeting strategic investors. It is also preparing to finalise a debt financing agreement to support future acquisitions.

Tobias Taupitz, CEO and co‑founder of Laka, says, “Reaching this milestone marks a pivotal moment in Laka’s journey – it’s a testament to the trust we’ve built with riders, retailers, and corporate partners across Europe.”

“This new financing will enable us to deepen that trust, expand our category‑defining role in green mobility insurance, and build towards profitability, while pursuing further acquisitions that consolidate this fragmented market.”

Rewriting the rules of insurance

Founded in 2017 by Jens Arne Hartwig, Tobias Taupitz and Ben Allen, Laka has introduced a collective-driven insurance approach, replacing traditional upfront premiums with a model based on actual claims.

The company aims to address common issues found in conventional insurance by eliminating long-term contracts and aligning its incentives with claim approvals. Laka earns revenue only when claims are paid, positioning itself as a service provider that benefits when customers are supported.

Customers are billed monthly based on the total cost of claims made by the collective in the previous month. When fewer claims are made, charges are lower. Each customer’s monthly payment is capped according to the value of their insured equipment.

Laka manages all claims, distributes costs among members, and ensures that each member is protected from high claim months through capped charges. Its main offering includes insurance for bikes, e-bikes, and e-cargo bikes, along with personal liability, health and recovery, and business-focused products.

Business growth

Laka transitioned from a cycle insurance provider into a broader green mobility platform operating in nine EU countries and the UK. Over the past two years, the company has grown through acquisitions and an expanding business model.

In 2025, Laka acquired Luko’s e-scooter insurance portfolio from Allianz Direct, bringing in 19,000 new customers. 

In 2024, the company secured renewal rights to CoverCloud’s bike insurance portfolio, strengthening its presence in the UK. The 2023 acquisition of French e-bike broker Cylantro marked Laka’s entry into one of Europe’s growing e-mobility markets.

Laka reports consistent growth, with high customer retention and increasing average revenue per user. Its B2B2C model has expanded its reach through partnerships with retailers and manufacturers, including Decathlon, Brompton, Gazelle, Riese & Müller, Tenways, and Ribble.

Jack Toyama, President & Managing Director at MS&AD Ventures, says, “The micro‑mobility market is evolving rapidly, presenting huge opportunities for platforms that can unify and redefine its insurance offerings. Laka has demonstrated an impressive ability to integrate acquisitions and build a collective‑driven approach that benefits both riders and businesses.”

“We’re proud to support the team as they scale across Europe and help drive the shift towards a cleaner, more connected transport ecosystem.”