Laka, the award-winning insurtech for cyclists and green mobility users, has secured a £6.5 million Venture Debt Facility from HSBC Innovation Banking, bringing its total Series B funding to £14 million.
The new financing will support further strategic acquisitions and expansion across Europe, reinforcing Laka’s position as the go-to insurer for e-bikes, e-scooters and sustainable mobility.
Laka has grown from an award-winning cycle insurer into a multi-vertical European mobility platform, operating across nine EU markets and the UK. Its unique collective-driven insurance model challenges traditional insurance by ensuring riders only pay for what’s needed, not what’s expected with zero excess, transparent pricing, and a fairer approach to claims.
The company has executed three acquisitions in just 24 months, building an unmatched European footprint and track record. Luko’s e-scooter insurance portfolio in 2025 was acquired from Allianz Direct, adding 19,000 customers and expanding into micromobility. CoverCloud’s bike insurance renewal rights in 2024 deepened Laka’s position in the UK. Cylantro in 2023, a French e-bike insurance broker, unlocked one of Europe’s fastest-growing mobility markets. This disciplined M&A strategy underlines Laka’s financial strength, operational maturity, and category leadership, at a time when others in the space are still seeking scale.
By 2030, the global micromobility market is projected to more than double in value from around $160 billion to $340 billion, according to McKinsey. Europe is expected to be the largest regional contributor globally, growing from about $60 billion in 2022 to $140 billion by 2030.
Despite the rapid adoption of micromobility, insurance for this sector remains highly fragmented. This new funding will allow Laka to continue this M&A strategy, and cement its position as an emerging category leader.
Through its partnerships with Decathlon, Brompton, Gazelle, Riese & Müller, Tenways, Ribble and others, Laka powers protection for riders, retailers and leasing platforms.
Beyond traditional cover, its verticalised platform now includes recovery and replacement services for stolen e-bikes and e-scooters, parts salvaging and recycling to cut emissions and waste, and embedded commercial solutions for manufacturers and retailers.
Laka is backed by Shift4Good, MS&AD Ventures, Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners, Creandum, LocalGlobe, 1818 Ventures, Republic (formerly Seedrs), Porsche Ventures, and a number of high-profile angel investors. Their continued support underlines confidence in Laka’s mission to build the category-defining insurer for the mobility revolution.
