Tag Archive: laka

  1. Bicycle insurer Laka welcomes new investor: Achmea Innovation Fund

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    Achmea Innovation Fund has made an investment in the European micromobility insurer and LEVA-EU member Laka. This startup provides a range of insurance and circular economy services to e-bike riders, cyclists, and businesses. This investment is in line with Achmea’s ambitions in the field of smart and sustainable mobility and its interest in innovative mobility solutions.

    Laka is a mobility insurtech, founded in London in 2017 and now active in multiple European countries, including the Netherlands, and insures more than €140 million worth of bicycles and e-bikes. Laka’s main offering is collective-driven insurance for bikes, e-bikes and e-cargo bikes.

    The collective is a group of cyclists, connected by a common interest; their bicycles. Each month’s claims are shared amongst Laka’s collective of cyclists, so the monthly bill varies up to a guaranteed cap. Now cyclists only pay for what’s needed. The fewer claims there are, the lower the monthly premium.

    As well as offering insurance directly to consumers, Laka is working with retailers and brands to embed insurance at point of sale. The most recent partnerships are with the Dutch bicycle manufacturer Gazelle and cargo bike brand Urban Arrow from Pon. Other partners include sports retailer Decathlon and e-bike brand Riese & Müller. This allows Laka to reach cyclists in the most efficient way.

    Exploiting the opportunities of embedded insurance

    Katharina Maas, Fund Manager Achmea Innovation Fund: “In a world where the demand for green and healthy transport options continues to rise but electric bicycles are also becoming increasingly expensive, Laka is at the forefront with innovative solutions. Their innovative ’embedded’ insurance model ensures that bicycles are insured directly from the manufacturer. But Laka does more; They also offer services to recover stolen bikes, and they help cyclists get back on the road quickly after theft or damage. Achmea invests in Laka because of the attractive possibilities of embedded insurance and the synergy with our business activities. Moreover, Laka’s model is directly in line with our cooperative values and our mission to optimally insure customers and provide them with the right services.”

    Tobias Taupitz, CEO and co-founder Laka: “We’re excited to welcome leading Dutch insurer Achmea to join Laka’s ride. Their investment is testament to the strength of our embedded proposition and will support Laka’s growth across Europe in Green mobility. We look forward to working with the Achmea Innovation Fund team and the broader organisation to create outstanding customer value. In addition, we welcome Henrieke Hoftijzer to join our board.”

    Next growth phase

    Achmea Innovation Fund’s investment follows the extension of the latest investment round led by impact investor Shift4Good alongside existing investors Autotech Ventures, Porsche Ventures, Ponooc, ABN AMRO Ventures, Creandum, 1818 Ventures and Elkstone Partners. This will allow Laka to enter the next phase of growth, which is aimed at further expansion in Europe.

    For more information:

    Marco Simmers
    Press officer Achmea
    +31 6 53 43 87 18
    marco.simmers@achmea.nl

    About Achmea Innovation Fund

    Since 2019 Achmea Innovation Fund invests in start-ups and scale-ups that match the mission and strategic domains in which Achmea operates. The fund exclusively takes minority stakes in these companies, with the aim of further growth and realising strategic value for Achmea. The Achmea Innovation Fund contributes to solving social issues, for example in the field of mobility.

    Founded in 2017, Laka set out to transform insurance by connecting passionate cyclists to form a collective and protect their bikes for when things go wrong. Now serving cyclists across Europe, Laka is the leading bike insurance provider that insures businesses and individuals looking to make their journeys pedal-powered. Laka challenges the traditional insurance model by providing tailored cover to suit your needs – this includes a tech-driven claims experience that has won Best Cycle Insurance Provider’ at the Insurance Choice Awards for six years running.

  2. Laka and Riese & Müller partner up to offer insurance to RX Connect customers

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    • Insurance disruptor Laka partners with German bicycle manufacturer Riese & Müller.
    • Laka will now offer three insurance packages included in the Riese & Müller ConnectCare service to all RX Connect customers in Belgium, the Netherlands, and France.
    • The partnership enables customers to insure their bikes easily through the Riese & Müller My Bike platform and the RX Connect app.

    Laka (www.laka.co), the award-winning European Insurtech that offers a unique insurance model to cyclists and businesses, has started a new partnership with the German premium E-bike manufacturer, Riese & Müller, to provide cover for all existing and new RX Connect customers with ConnectCare subscription in France, Belgium, and the Netherlands.

    With this new partnership, Riese & Müller customers who buy an E-bike with an RX Chip and subscribe to ConnectCare now benefit from exclusive Laka bike insurance cover under the ConnectCare service. The new ConnectCare service comes in three options, Basic, Smart, and Comfort, and was launched this month. This shows the commitment from Laka and Riese & Müller to stamp out thieves and keep everyone riding protected.

    Known for developing fully suspended E-Bikes and cargo bikes, and the innovative RX technology, the partnership with Riese & Müller builds on Laka’s existing network of micro-mobility brands across Europe such as Gazelle, Brompton, and Decathlon.

    On the Riese & Müller partnership, Tobias Taupitz, Laka CEO said, “We are excited to welcome Riese & Müller to the Laka family and their RX Connect E-bike customers to the Laka Collective. We’re determined to provide them with a best-in-class experience and service. Together with Riese & Müller, we can help their customers fully enjoy their e-bike, knowing that Laka will swiftly get them back on the saddle if needed.”

    Joachim Teske, Product Manager Digital Services at Riese & Müller, said:
    “We are looking forward to expanding our ConnectCare Service to further European markets, connecting more customers to their bikes and giving them a greater sense of security and peace of mind. We’re sure that our E-Bike riders will benefit from Laka’s service and together with both our connectivity and recovery service we have created a holistic product.”

    To find out more visit: https://www.r-m.de/rx-services and https://group.laka.co/r-m

  3. Laka acquires French e-bike insurance broker Cylantro

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    European mobility insurer Laka, who provide a range of insurance and circular economy services to e-bike riders, enthusiast cyclists and companies, has announced the acquisition of Cylantro, a French e-bike insurance broker.

    The company at the same time publicised its latest funding round, with the aim of building upon its leadership in the Green Mobility sector. The equity plus debt round of €7.6 million, was led by leading impact investor Shift4Good, alongside existing investors Autotech Ventures, Porsche Ventures, Ponooc, ABN AMRO Ventures, Creandum, 1818 Ventures & Elkstone Partners. Previous angel investors include Zwift CEO and co-founder, Eric Min. The fresh capital will be used to amplify Laka’s efforts to enable more customers to transition to more environmentally friendly modes of transport.

    The CEO and founder of Cylantro, Thomas Arnou, has joined Laka, specifically overseeing operations in the French market. This strategic move has been prompted, in part, by the notable surge in e-bike and bicycle sales, as well as the increasing prevalence of cycling as a mode of transportation in France, outpacing other European nations. Cylantro, headquartered in Paris, operates as an insurance brokerage firm with a distinct specialization in catering to the unique requirements of its clientele in the realm of bicycles and e-bikes.

    Arnou commented: “Cylantro was in the unique position of having a lot of acquisition interest and, therefore, able to get a clear vision of the competitor landscape. We chose to join forces with Laka because of their aligned core principles – customer first and best-in-class claims handling. We’re ready to build the European leader together.”

    Tobias Taupitz, CEO and co-founder of Laka, said: “We’re excited to welcome onboard the Cylantro team to Laka. Thomas and his team have built up a fantastic offering in France, and we can’t wait to ramp up our presence across the country. E-bikes are expected to outgrow car sales by 2025 in Europe and we see huge potential in France, where the sales of bikes and e-bikes are growing at double-digits.

    “We are also excited to welcome Shift4Good as an investor, and we look forward to working with them to expand our commitments to decarbonising mobility, by making it easier for consumers to insure and protect their bikes or e-bikes.”

    Matthieu de Chanville, Co-founder and Managing Partner at Shift4Good, commented: “It is a great honour to assist Laka in accelerating within the highly promising market of smart mobility. Laka returns insurance to its pure, mutual heritage. Laka’s members and their shared interests incentivise positive behaviour which in turn benefits the entire community. We have full confidence in the team, their tech stack, and the momentum of Laka. We are committed to providing substantial support in both Europe today and Asia tomorrow to further their mission of decarbonizing road mobility. Creating global leaders through innovative technology isn’t just our mission; it’s a daily passion, as exceptional entrepreneurs are pivotal in driving a sustainable economy.”

    About Laka

    Laka, winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, was founded to better serve individual cyclists and businesses with a fairer, collective-driven approach to insurance. With a tech-driven and customer-centric approach, Laka has built on being an award-winning cycle insurer, to now being uniquely positioned as the go-to micromobility insurance provider in the UK and Europe. www.laka.co

  4. Cervélo & Santa Cruz choose Laka as their preferred insurance partner

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    LEVA-EU Member Laka, the award-winning bicycle insurance provider, is thrilled to announce a partnership with prestigious cycle brands Cervélo and Santa Cruz. Laka will be the official insurance partner, providing Cervélo and Santa Cruz customers with a fair and painless insurance experience.

    “We’re thrilled to partner with Cervélo and Santa Cruz to offer their customers a unique and innovative insurance product.” said Joost Klarenbeek, Partnership Manager at Laka, “Laka’s insurance champions fairness, transparency, and positivity, which beautifully aligns with the exceptional service and quality of these iconic bike brands. This partnership reflects the indispensable role insurance plays in the full service retail experience. We’re really excited to be providing enhanced protection for Cervélo and Santa Cruz customers’ high-end bikes.”

    Laka’s insurance model offers a fair and transparent price combined with customised cover to meet the needs of road cyclists and mountain bikers. Additionally, Laka’s insurance model is built on a collective model where customers are only billed for the real cost of claims made within the collective. This unique model promotes a safe and responsible biking culture, while substantially reducing insurance costs.

    Michael Sommer, Sales Director EMEA at Cervélo & Santa Cruz, adds, “It’s a great relief to finally have an insurer that truly understands the specific needs and value of high-end road bikes like ours. Our partnership with Laka will ensure our customers are fully protected, enhancing their peace of mind.”

    The partnership between Laka, Cervélo, and Santa Cruz signifies the importance of top-tier insurance products in amplifying customer satisfaction and loyalty in the bicycle industry.

    About Laka

    Laka, winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, was founded to better serve individual cyclists and businesses with a fairer, collective-driven approach to insurance. With a tech-driven and customer-centric approach, Laka has built on being an award-winning cycle insurer, to now being uniquely positioned as the go-to micromobility insurance provider in the UK and Europe. www.laka.co

  5. Laka collaborates with Sigma Sports and CycleSoftware

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    Laka has partnered with Sigma Sports and CycleSoftware to provide customers with insurance solutions at the point of sale (POS). 30 days of free insurance is offered to Sigma Sports’ customers on their new bike purchase, after which preferential rates are obtainable. Recognising their integrated approach, CycleSoftware has also introduced Laka’s service to its customers.

    “We are excited to add Laka to our insurance links within CycleSoftware,” said Jebbe Sluiter of CycleSoftware. “Laka has an excellent reputation as an insurer for sporty bikes, e-bikes, and cargo bikes, and we are confident that our bike shop customers will benefit from the addition of Laka to our platform. This enables them to serve their customers even better and provide a seamless experience during the sales process.”

    For the past five years, Laka has won the ‘Best Cycle Insurance Provider Award’, reflective of its cooperative stance regarding issuance policies for customers and businesses alike. Customers are only charged based on the cost of claims submitted in the previous month. There are no upfront payments, so customers benefit from fair premiums. All claims are handled by Laka, who divides the cost and limits each customer’s maximum monthly spend. Caps are based on the value of the equipment insured by each individual member.

    Laka Partnership Manager, Joost Klarenbeek, commented, “Thanks to the collaboration with CycleSoftware, we can expand our reach and make our insurances even more accessible to bicycle shops in the Netherlands. It is important to mention that we do not demand exclusivity from the bike shops we work with. As a result, they retain the freedom to offer other insurers to their customers.”

    Meanwhile, commenting on its collaboration with Sigma Sports, Laka CEO, Tobias Taupitz, remarked, “Laka is proud to partner with Sigma Sports, a well-known name in the UK cycling community, and we’re determined to provide a best-in-class experience for its customers.

    “Together, we can help their customers fully enjoy their bike, knowing that Laka has their backs and swiftly get them back on the saddle if needed.”

    Sigma Sports is renowned for retailing bikes and accessories and supplying in-store services that include maintenance and bike fitting. The partnership with Laka is reflective of Laka’s existing network of similar bike shops and brands.

    James McEuen, CEO of Sigma Sports, added, “At Sigma Sports we pride ourselves on our excellent customer service and the highest quality bikes and equipment. We take the same care and attention when choosing those businesses, we partner with and Laka is a perfect example of that same commitment to outstanding quality of care for the customer.

    “It is great to be able to offer 30 days free insurance on their new bike purchase with access to preferential rates thereafter.

    “We know Laka will look after our customers and their bikes in the best way possible and keep them pedalling no matter what.”

  6. VOLT announces partnership with award-winning insurance firm LAKA

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    Source: Volt Bikes

    E-bike manufacturer VOLT has announced its new insurance collaboration with LEVA-EU member LAKA, three-time winners of the Best Cycle Insurance Provider category at the Insurance Choice Awards and pioneers of the ‘collective insurance’ scheme.

    The partnership will be celebrated with an exclusive 30-day free bicycle insurance trial, available online to all VOLT riders, new and old. This collaboration is another step in the UK-based manufacturer’s sustained drive to deliver exceptional products to its customers, with VOLT seeking to ensure that from day one and beyond riders are supported along every step of their journey.

    Just as VOLT continues to expand apace with their focus on innovation, so too does LAKA, with their collective insurance scheme disrupting the industry. LAKA’s collective insurance splits the monthly claims cost across the entire community of riders, a month without any claims is a month without any payment from you and the whole collective. Riders are intrinsically tied to one another, with the system designed to nurture community spirit.

    LAKA’s partnership works in harmony with VOLT’s commitment to delivering the best possible deal for customers, with their flexible insurance having no annual subscription or upfront payment costs and no excess super-fast claims which are usually processed within a day. VOLT and LAKA will ensure you’re protected with both theft and damage coverage.

    “At VOLT we’re always looking to partner with organisations that are innovating within our sector. This partnership with LAKA is really exciting, they provide a great scheme which is disrupting the insurance industry. We know our riders will love their unique offer and we can’t wait to see them join ‘the collective’. We’re proud to have worked with LAKA to forge a great deal for all our riders.” – Volt founder and owner, James Metcalfe

  7. The future of micromobility – an interview with Laka CEO Tobi Taupitz

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    The future of micromobility is an interesting prospect. Soaring fuel costs, environmental pledges, and changing work habits are already seeing our towns and cities transform thanks to micromobility vehicles. But what next?

    Catch up with LEVA-EU Member Laka’s CEO Tobi Taupitz, as he discusses all things micromobility and how LAKA fits into the equation in the organization’s latest press release.

    What is micromobility?

    Micromobility is here to stay. It’s gone from a buzzword in the technology world to a fixture of our everyday lives. Whether that’s the bike we jump on to get to work, or the e-scooters you see in towns and cities.

    But what does ‘micromobility’ actually mean? Well the dictionary definition says micromobility is “the use of small, low-speed vehicles as a means of personal transport”. Seems straightforward enough.

    Tobi has a more detailed view:

    “For me, micromobility means bikes, cargo bikes, e-scooters & e-mopeds – but you can now see all sorts of interesting use cases that don’t quite fit the description. Micromobility really hones in on short(er) distance travel. The use cases are quite interconnected. You can use an e-moped to deliver a pizza or you can use it to get from A to B.

    I suppose what links micromobility is that these aren’t vehicles primarily used for fun. Even if they are a fun way to get around. So I think what we’re talking about is beating traffic and being smarter about getting from A to B.

    When we think about micromobility insurance customers, it’s the commuter and transportation side on the one hand, and it’s the commercial and business side on the other. This narrows down the segments we are serving in the micromobility space.

    Micromobility is evolving of course. There is a BCG paper that came out in May that predicted what Micromobility will look like by 2030, which was super interesting and insightful. It’s just inspiring how the world is changing.”

    Micromobility stats at a glance

    The paper that Tobi refers to paints an interesting picture of the current micromobility landscape too. Here are the key takeaways:

    • Bike ownership is still expected to be the biggest market by volume at €35 Billion Annually
    • Subscription vehicles are the fastest-growing segments in the micromobility market
    • More than 30% of all their survey respondents use a bike several times a week, if not daily
    • Among city dwellers, 41% use a micromobility vehicle to commute
    • The top six reasons people choose micromobility were of almost equal importance: flexibility, reliability, price, the weather (when it is pleasant), safety, and the opportunity to save time by reducing travel time.

    Bikes clearly play a big role in driving micromobility forwards too. A report from We are Possible found that cargo bikes have the potential to cut emissions by 90% compared to diesel vans and are 60% faster than vans in urban centres.

    This is what Pedal Me have managed to achieve through excellent rider training, operational efficiencies, and using the best cargo bikes for the job.

    What does the future look like for micromobility?

    Tobi says the key to micromobility’s success in the future is having vehicles that can outperform traditional cars & vans.

    “We’re seeing cargo bikes that can carry more and more. It’s really taking off. That’s the use case of the EAV for example. It’s more of a van than an e-bike. This shows that some of the creative solutions are already out there.”

    The EAV that Tobi is referring to is an awesome look into how our cities will soon look. If not how they look already.

    EAV build eCargo vehicles for emerging use cases and new urban environments. Their vehicles are designed down from a van, not up from a bike: a fundamental innovation in eCargo bike design. This unique hybrid allows more deliveries in a shorter amount of time by accessing cycle lanes and pedestrian routes.

    Micromobility vehicles are on the rise but how will this affect our towns and cities? What patterns are we seeing in how people now use urban spaces?

    Whilst catching up with EAV we asked head of partnerships Leo Bethell how he sees the future of our urban spaces:

    “Heavy and large vehicles will be removed from the city centre, as vehicle lanes make way for lightweight micromobility options. Cycle and pedestrian infrastructure will take priority over legacy vehicles meaning people will reclaim the city as a safe environment.”

    Making the city a safe environment is critical. Expect to see initiatives like ‘School Streets’ in the UK become commonplace everywhere. School Streets are council-led schemes that restrict motor traffic access outside schools at key times. This leads to safer access to schools and better use of the space outside school by children and families walking, scooting, cycling, and wheeling to school.

    Expect to see many more initiatives that ‘reclaim’ the streets too. It’s fundamental to making our cities greener and more liveable. Designing our streets for humans first and transport / vehicles second is a powerful way to turn the tables on polluted cities & chaotic urban environments.

    The Laka journey so far…

    And where does Laka fit into all of this? Finally we asked Tobi what sets Laka apart from the rest:

    “Well firstly, being tech-driven we have lots of data points compared to your standard business insurer. We have thousands of cargo bikes on the platform and we know very well what the risk looks like. Price is important, but it’s not everything. Service is essential and can be broken down between the actual claims offering, which we have as best in class, I would argue. And then of course it’s our ability and willingness to go beyond that.

    On the one hand, this would be through the products we are offering, liability cover, goods in transit, and I’m sure more in the future. On the other hand, it’s the integration of the ecosystem we build around your needs and your existing operations. If you have fleet management software for example, Laka just seamlessly integrates, captures the right data and makes it super easy to work with you.”

  8. Laka’s insurance extends to Germany with the support of Porsche

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    Source: SazBike, M. Huber

    LEVA-EU member Laka, a bicycle insurer based in London, has now launched its service in Germany thanks to support from Porsche Ventures. In its initial stage, the brand will offer digital insurance products in these regions.

    Laka insurance is now available for all bicycles in Germany, including a partnership with Cyklaer e-bikes. Service providers in Germany under Laka insurance include Decathalon, Raleigh, Le Col, and Dockr. As announced in June, this development is facilitated by support from Porsche Ventures.

    Maxim Huber writes, “The insurance provider promises to only bill customers for the actual costs of claims submitted in the previous month. Insured persons should benefit from lower prices with fewer claims, while members are protected from higher collective claims by a monthly price cap. Costs are reduced through a daily updated pricing and risk model, with policyholders being transparent about where their money is going each month, the company says.”

    “We are thrilled to bring our modern, refreshing, and collective insurance model to Germany, where micro-mobility is already a part of everyday life and continues to grow,” says Kelly Barnes, CMO of Laka.

  9. Insurance disrupter Laka secures further funding from Porsche Ventures, as part of a Series A extension, enabling German expansion.

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    LEVA-EU member Laka (www.laka.co), winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and followed by Ponooc, Dutch sustainable mobility investor with close ties to the world’s largest bike seller Pon, and ABN AMRO, to $13.5m. Laka will use the new capital and network opportunities to facilitate its European expansion.

    With no major European player for cycling and e-mobility insurance, Laka is uniquely placed and first-to-market with an insurance model that has customer interest built-in to the core. Laka will expand its product offering to e-scooters, e-mopeds, and, eventually, e-cars to better serve Europe-wide partnerships including manufacturers, retailers, and leasing businesses.

    About the investment, Patrick Huke, Head of Porsche Ventures, Europe & Israel said

    “The increasing digitization and variety of sustainable mobility offers leads to the need for an innovative and customer-centric offer in the field of digital insurance. With the investment in Laka, we are pleased to support a strong team that is addressing the global insurance market with a unique, highly adaptable, and digital business model, which focuses above all on the customer experience.”

    Laka will be exploring opportunities with the Porsche Ventures portfolio to build the backbone to support the e-mobility segment. Initially partnering with German cycling brand Cyklaer (www.cyklaer.de) to offer new and existing customers built in digital insurance products. Cyklaer will be joining Laka’s partners, which include the world’s largest sports retailer, Decathlon, iconic cycling brands Raleigh and Le Col, as well as Santander Consumer Finance and Monzo. The partnerships enable the brands to provide end-to-end digital experiences by immediately protecting their customers from theft and damage at the point of sale.

    Tobias Taupitz, CEO and co-founder of Laka says “2021 truly depicted an inflection point for Laka as we moved from a pure direct-to-consumer play towards retail and commercial partnerships.    

    e-mobility is redefining transport globally, and Laka has set out to build the backbone to support the e-mobility segment at a time when “Net Zero Emissions” has rightly become front of mind for consumers, businesses, and government policy. To support this shift towards a greener future, we have a bold vision to become the world’s largest e-mobility insurance partner.”

    Already insuring many of the UK’s leading last-mile delivery companies, such as Zapp and Urbit, Laka is also expanding to cover commercial fleets Europe-wide, where companies who are shifting their fleet to greener transport and e-mobility are underserved by traditional insurers.

    Porsche Ventures joined the existing investor list including Autotech Ventures, Ponooc, ABN AMRO Ventures, Creandum, LocalGlobe, 1818 Ventures, and Elkstone Partners. Notably, confidence in Laka was shown by global cycling industry leaders, with angel investment coming from Zwift CEO and co-founder, Eric Min, in January 2022.

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