As Europe’s micromobility push accelerates, insurance remains one of the industry’s most fragmented sectors. Despite the rapid adoption of e-bikes and e-scooters, many users face inconsistent and incomplete coverage. Laka, a British insurance provider for green mobility users, is addressing this gap by reimagining how insurance is designed, priced, and delivered across borders.
Today, the company recently secured a £6.5 million venture debt facility from HSBC Innovation Banking, bringing its total Series B funding to £14.1 million. This new capital will support Laka’s European expansion and fund a disciplined acquisition strategy essential to its vision of becoming Europe’s leading green mobility insurer.
Founded in 2017 by Ben Allen, Jens Arne Hartwig, and Tobias Taupitz, Laka was born out of frustration with outdated, one-size-fits-all insurance models. The founders’ vision is simple: a collective insurance model in which riders pay only for the claims that actually occur, ensuring fairness, transparency, and a shared community benefit.
Starting as a niche cycling insurer, Laka has grown into a pan-European platform redefining insurance for modern riders, retailers, and manufacturers. The company’s mission aligns strongly with Europe’s shift toward sustainable mobility, grounded in values of fairness and sustainability.
Laka’s technology upends traditional premium models. Rather than fixed rates, customers share real claim costs monthly, capped at a percentage of their equipment’s value. Backed by advanced claims processing and data analytics, Laka’s platform also provides recovery and replacement services, salvage and recycling initiatives, and embedded insurance solutions for top mobility brands like Decathlon, Brompton, and Gazelle.
Laka competes with a range of specialised bike and micromobility insurers across Europe, including companies like BikeInsure, Cycleplan, Bikmo, Sundays, and larger insurers such as Aviva, Allianz, and AXA that offer bike insurance products. Laka’s edge lies in its collective-driven insurance model, where customers pay only for actual claims submitted by the community each month, fostering transparency and fairness compared to traditional fixed-premium offerings.
With this debt facility, Laka is accelerating its M&A-driven growth across Europe. In the past two years, the company completed three strategic acquisitions, including Luko’s e-scooter insurance assets, CoverCloud’s bike insurance renewal rights, and the French e-bike broker Cylantro.
As consolidation in micromobility insurance remains in its early stages, Laka plans to unify the fragmented market. By 2030, Europe’s micromobility sector is expected to reach £140 billion in value.
