This story requires our BI Prime membership. To read the full article,Laka, a London-based insurtech, has just raised $4.7 million in new funds from VC investors LocalGlobe and Creandum.
Based in London with an office in Bristol, UK, Laka offers insurance products for cyclists based on a community-led model. Founded in 2018, the startup wants to "change the mindset" of customers by flipping the traditional insurance model. Other specialist cycling insurers in the UK include Yellow Jersey, Bikmo, PedalSure, and CyclePlan alongside policies from larger organisations like Aviva and Evans Cycles.
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