London-based insurtech startup Laka has successfully raised $10.4 million in a Series B funding round. The company specializes in “collective” insurance for bicycles and e-scooters, where customers pay a monthly variable fee tied to the total number of claims made by the community. This model encourages fewer claims, leading to lower costs for all users. Laka aims for profitability by the end of next year and sells insurance both directly and through partners like Decathlon, Brompton Bikes, Gazelle, and Ribble Bikes.
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