London-based green mobility insurer Laka has secured a £6.5m venture debt facility from HSBC Innovation Banking, bringing its total Series B funding to £14.1m. The new round strengthens Laka’s financial position as it pursues further European expansion and strategic acquisitions.

This follows the company’s £7.6m Series B equity round announced earlier this year, co-led by Shift4Good and MS&AD Ventures.

Fueling a Pan-European Growth Strategy

Laka plans to use the new capital to advance its M&A strategy, which has already seen three key acquisitions in the past two years. The company recently acquired Luko’s e-scooter insurance portfolio from Allianz Direct, adding nearly 19k new customers and expanding deeper into micromobility. Prior to that, it took over CoverCloud’s UK bike insurance renewal rights and French e-bike broker Cylantro, strengthening its footprint across Europe’s largest cycling markets.

These acquisitions, Laka says, are part of its plan to consolidate a fragmented insurance market and establish itself as the category-defining leader in green mobility protection.

Building the Infrastructure for Green Mobility

What started as a cycle insurer has evolved into a multi-vertical mobility platform spanning nine European markets and the UK. Laka’s collective-driven insurance model, where customers pay only for actual monthly claims rather than fixed premiums, has distinguished it from traditional insurers. The model ensures transparent pricing, zero excess, and a fairer claims process, aligning the company’s incentives directly with those of its policyholders.

Beyond insurance, Laka is building a comprehensive mobility services ecosystem. Its platform now includes:

• Recovery and replacement services for stolen e-bikes and e-scooters
• Parts salvaging and recycling, reducing emissions and waste
• Embedded insurance solutions for manufacturers, retailers, and leasing platforms

Through partnerships with Decathlon, Brompton, Gazelle, Riese & Müller, Tenways, and Ribble, Laka is deeply integrated into Europe’s green mobility supply chain.

Positioned for a Booming Market

The market opportunity is substantial. According to McKinsey, the global micromobility market is projected to grow from $160B in 2022 to $340B by 2030, with Europe accounting for over $140B of that total. As usage of e-bikes and e-scooters continues to rise, the need for specialized insurance remains highly fragmented, a gap Laka is strategically filling.

"We’re entering the next phase of Laka’s journey, scaling from Europe’s best-known cycle insurer into the continent’s category-defining green mobility insurer," said Tobias Taupitz, CEO and Co-Founder of Laka. "This partnership with HSBC Innovation Banking gives us the flexibility to move fast on strategic opportunities and to further consolidate a fragmented market."

Investor Confidence

Laka’s growing roster of backers includes Shift4Good, MS&AD Ventures, Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners, Creandum, LocalGlobe, 1818 Ventures, Republic (formerly Seedrs), and Porsche Ventures. Their continued support signals strong confidence in Laka’s long-term strategy and its role in shaping Europe’s sustainable transport future.