BikeBiz Bicycle and cycling retail news
Bicycle insurance specialist Laka has announced new funding from Achmea Innovation Fund, the early-stage venture capital fund from Achmea.
Since 2019, Achmea Innovation Fund has contributed to solving social issues in areas including the field of mobility, investing 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. It is here that the investment in Laka aligns with Achmea’s ambitions in the field of smart and sustainable mobility and its interest in innovative mobility solutions.
Katharina Maas, fund manager Achmea Innovation Fund, said: “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.”
As well as offering insurance directly to consumers, Laka is working with retailers and brands to embed insurance at the 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.
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.
The Laka business – classified as mobility insurtech – was founded in London in 2017 and is now active in multiple European countries, including the Netherlands. The business currently insures more than €140 million worth of bicycles and e-bikes.
Tobias Taupitz, Laka CEO and co-founder, said: “We’re excited to welcome leading Dutch insurer Achmea to join Laka’s ride. Their investment is a 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.”
Katharina Maas, fund manager Achmea Innovation Fund, added: “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 by 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.”
