Laka partner with Porsche Ventures, enters German market
Laka has launched into the German market following new funding from Porsche Ventures, the venture capital unit of Porsche AG.
The award-winning micromobility Insurtech is further expanding across Europe to better serve individual cyclists and businesses with a fairer, collective approach to insurance.
On the launch, Laka’s Founder and CEO Tobias Taupitz said, “I’m excited to go back to my roots and launch Laka in Germany, our 5th 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”
Laka’s tech innovation is why smart e-bike brand Cyklaer, renowned for their intelligent digital functionalities and design, has chosen to partner with Laka insurance.
Patrick Huke, Head of Porsche Ventures Europe & Israel comments, “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.”
Cyklaer joins a stellar list of Laka’s Europe-wide partnerships including manufacturers, retailers and leasing businesses. Partners include the world’s largest 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.
“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,” notes Laka CMO Kelly Barnes.
The Laka business model challenges traditional insurance by charging customers based on the actual cost of claims submitted in the previous month, passing on lower prices from less claims, whilst protecting customers in their collective from higher claims with a maximum chargeable amount. Costs are lowered by Laka’s unique tech driven daily pricing and risk models, with customers receive full transparency on where their money goes each month.
Laka Insurance is now available for all bikes in Germany, and via our partnership with Cyklaer e-bikes. Customers can purchase Cyklaer e-bikes at www.cyklaer.de and through JobRad.
For further information about Laka visit laka.co
For insight into Porsche’s move into the Cycling Industry, and eMobility:
Porsche eBike Performance GmbH launches into cycling market
Porsche acquires eBike OEM Fazua
Porsche forms strategic partnership with Ponooc, the venture capital arm of PON Holdings (Ponooc’s investments include most recent insurer Laka, Bikemap, Dockr and Movelo. Pon Holdings is an established distributor of Porsche products.)
