Exclusive: Investors bet $10M that Laka’s ‘collective insurance’ can fix bike coverage
London-based insurtech startup Laka has raised $10.4mn in Series B funding as it eyes profitability at the end of next year. Laka offers “collective” insurance for bikes and e-scooters, pooling claims across a community of riders. Instead of fixed, upfront premiums, customers pay a variable monthly fee based on the total number of claims across the entire user base. The fee is capped at a maximum amount based on the value of their gear. Fewer claims mean lower costs for everyone. Laka provides the insurance cover both directly and through retailers like Decathlon, Brompton Bikes, Gazelle, and Ribble Bikes. Tobias…This story continues at The Next Web [...]
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