Laka launches in Germany with Cyklaer and Porsche Ventures

Laka has launched in Germany following new funding from Porsche Ventures, the venture capital unit of Porsche AG.

German launch partner, Porsche Digital’s brand Cyklaer, has teamed up with the Insurtech to offer integrated digital insurance products.

Laka’s founder and CEO Tobias Taupitz, said: “I’m excited to go back to my roots and launch Laka in Germany, our fifth market. Having grown up in close proximity to Stuttgart, I couldn’t have wished for a better launch partner than Cyklaer, a beautifully designed e-gravel bike.

“I look forward to providing tech-driven, fairer insurance to individuals and businesses in Germany.”

Cyklaer joins a list of Laka’s Europe-wide partnerships including manufacturers, retailers and leasing
businesses. Partners include the sports retailer Decathlon, cycling brands Raleigh and Le Col, banking partners Santander Consumer Finance and Monzo, plus commercial clients Randstad, Dockr and EAV.

The partnerships range from digital experiences to protect customers at the point of sale, to providing flexible insurance solutions for micromobility companies.

Patrick Huke, head of Porsche Ventures Europe and 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 and partnership, 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 charges customers based on the actual cost of claims submitted in the previous month, passing on lower prices from fewer claims. Costs are lowered by Laka’s tech-driven daily pricing and risk models, and customers receive transparency on where their money goes each month.

Read more: E-bike brand Batribike goes live on Citrus-Lime

Kelly Barnes, Laka CMO, said: “Laka has built on being an award-winning bicycle insurer to now being
uniquely positioned as the go-to micromobility insurance provider across Europe.

“We’re thrilled to bring our modern, refreshing, collective insurance model to Germany, a cycling nation where micromobility is a part of daily life and continues to gain importance.

“At a time where a shift towards a greener future has never been more important, we’re excited about helping to support further micromobility growth in Germany with partners like Cyklaer who are driving e-bike and e-mobility adoption.”

Laka Insurance is now available for all bikes in Germany, and via its partnership with Cyklaer e-bikes.

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