Laka an InsurTech startup has recently secured $8 million in funding and completed a strategic acquisition. This investment round was led by Stockwell Capital and Talis Capital with participation from existing investors.
Laka is a digital insurance platform that offers a unique approach to coverage for cyclists. Unlike traditional insurance providers Laka operates on a collective model where members pool their premiums to cover claims. This not only creates a sense of community but also encourages responsible and safe cycling.
With the newly raised funds Laka plans to expand its services internationally and develop its platform further. This includes enhancing its technology infrastructure improving user experience and increasing the range of insurance products offered. Laka aims to become a global leader in cycling insurance providing affordable and comprehensive coverage for cyclists worldwide.
In addition to the funding Laka has also completed a strategic acquisition of a competitor an InsurTech company called The Curator. This acquisition will help Laka strengthen its market position by combining resources and expertise. The Curator’s team will join Laka contributing their knowledge and skills to drive innovation and growth.
Overall Laka’s recent funding and strategic acquisition demonstrate its ambition to revolutionize the insurance industry for cyclists. With its collective model and focus on customer-centric solutions Laka aims to provide transparent and fair insurance products that cater to the specific needs of cyclists.