ABN AMRO Ventures is investing in a Series A capital raise of USD 12 million by London and Amsterdam-based insurtech start-up Laka, alongside US mobility investor Autotech Ventures and other tier 1 venture capital investors.
Laka offers bicycle insurance for retail and commercial customers, ranging from recreational cyclists and commuters to e-cargo bike drivers and delivery fleet riders. With its innovative pricing model, Laka is able to offer much fairer pricing across Europe than its competitors. Furthermore, Laka’s tech platform delivers a fast and straightforward user experience for businesses and consumers, from set-up to making a claim. With the e-mobility sector set to grow further as consumers and businesses turn to cleaner forms of transport, bicycle insurance is a growing need and an interesting growth market for Laka.
The rise of e-mobility is what prompted ABN AMRO Ventures to invest, plus Laka’s innovative pricing model and high customer satisfaction. Besides, the investment in Laka is fully in line with ABN AMRO’s ambition to support its clients’ transition to sustainability. As an active investor, ABN AMRO Ventures is committed to help Laka grow its market share in the Netherlands and North-West Europe.
ABN AMRO Ventures is investing alongside US mobility investor Autotech Ventures and Ponooc, the investment fund closely tied to Pon. Existing investors, including Creandum, LocalGlobe, 1818 Ventures and Elkstone Partners, are increasing their stakes.
Hugo Bongers, Director of ABN AMRO Ventures: “ABN AMRO Ventures is very excited to support Laka in its journey to become Europe’s leading green mobility insurtech. We look forward to partnering with Laka’s outstanding management team and the other investors to drive a big outcome together. Our investment in Laka fits perfectly with ABN AMRO’s ambition to provide our clients with best in class digital services and help them in their transition to more sustainable living.”
ABN AMRO Ventures is ABN AMRO’s corporate venture fund focused on (fin)techs. It invests in innovative companies that specialise in the digitalisation of financial products, services and infrastructure. With EUR 150 million of assets under management, the fund has stakes in 20 companies like Upvest, Solarisbank, Penta, Bux, PrimaryBid and Quantexa. Previous investments were in Tink (exit 2021), OpenInvest (exit 2021) and Trifacta (exit 2022).