BikeBiz Bicycle and cycling retail news
Laka has announced a Seedrs crowdfunding campaign.
Currently, Laka is participating in the Seedrs pre-registration phase. This provides potential investors with an opportunity to register interest and enjoy priority investment access (for as little as a £10 investment) prior to the crowdfunding campaign opening publicly. The pre-registration phase closes at 10am on 4th November.
The insurer has already attracted the backing of investors including VC firms LocalGlobe (Transferwise , Zoopla and Citymapper) and Creandum (Spotify, Klarna and Bolt) who are both investing in Laka for a second time. It has also attracted investment and the involvement of former CEOs and executives from companies such as Rapha, Fitness First, Aviva and Deutsche Bank.
“Laka shows what you can do when you rethink a product experience from the ground up,” said Carl Fritjofsson, partner at Creandum. “It has redefined the insurance experience from the first point of contact, until claims settlement, and even how to monetise the relationship with its members. It’s an amazing thing to see creativity and innovation going after a boring and stale insurance market. We couldn’t be more excited to continue support Laka transform this massive market.”
Tobias Taupitz, Laka’s CEO, added: “The outdated traditional insurance model is based on insurers taking your money and profiting from not paying out claims. The very thing you pay them for is what makes them more money. It’s insane. Insurance is the best business model in the world – just not for customers. That’s why we’ve flipped insurance on its head and created a better, fairer way of doing insurance by sharing risk in a true collective.
“Our members share the cost of all claims and we only earn our share when settling claims for the collective. Now, following years of growth, we want to grow faster and bring the collective along with us. Laka has loads of potential – that’s why we’re crowdfunding.
“COVID-19 has accelerated a shift in behaviour away from using public transport. The time of the bike has come and we are ready for it. What’s more, we have assembled a brilliant team of backers and cycle industry experts, who, together with our fast-growing collective, will ensure we maximise this amazing opportunity.”
Read the November issue of BikeBiz below:
