I am a freelance reporter based in Dublin covering many areas around the technology industry. I was previously a reporter at Fora and was a regular contributor to Tech.eu. My byline has also appeared on BBC News, Vice, and Mashable.
Laka, an insurtech start-up, has raised $8 million in new funding and acquired one of its smaller competitors in a push to expand deeper in Europe.
Laka has built a bespoke insurance product that it says is a"collective-driven insurance model" where cover is based on the cost of claims. Cyclists pay no upfront premium and rather each month’s claims are shared amongst a collective of cyclists.Chief executive Tobias Tauptiz said that Laka is expanding on the B2B2C model of selling insurance by partnering with retailers to reach more cyclists.
"I think there's a big wide space in the European market for what we call a green mobility powerhouse. You have lots of individual local brokers that service one individual country, but nobody has solved the pain point for these bigger partners who sell bikes across territories, across borders with lots of challenges and regulatory perspectives and the like," he said.
The deal will give Laka a stronger foothold in the French market, Tauptiz said, with Cylantro chief executive Thomas Arnou joining Laka to lead the French business.
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