This strategic move signifies Laka’s expansion into the broader micromobility market and reinforces its commitment to the European market.
The acquisition allows Laka to offer comprehensive insurance solutions to e-scooter customers in France, building upon its established expertise in bicycle insurance. This expansion aligns with Laka’s ambition to become the leading micromobility insurance provider across Europe.
E-scooters play a crucial role in reducing carbon emissions and alleviating urban congestion by replacing short car trips. Laka’s expansion into this market supports its commitment to sustainability, with estimates suggesting e-scooters can reduce CO2 emissions by up to 12,000 tons annually in major EU cities.
The acquisition follows Allianz Direct’s strategic refocus on home and travel insurance in France, one year after its acquisition of Luko. This transaction also demonstrates Laka’s continued investment in the European market, building on its recent partnership extension with Decathlon in Germany and previous acquisitions of French bike insurance provider Cylantro in 2023 and the renewal rights of CoverCloud in 2024.
Laka’s move into e-scooter insurance highlights its intent to diversify beyond bicycles and become a dominant player in the evolving micromobility insurance landscape.
Tobias Taupitz, CEO and Co-founder, commented, “We are actively looking to acquire within the micromobility space to bolster our offering and are delighted that Allianz Direct has chosen Laka as the new home for its e-scooter customers. Not only is this an exciting time for Laka’s growth, it gives us the opportunity to respond to market needs in France and offer e-scooter insurance.”
The EU e-scooter market was valued at approximately $1.2 billion in 2021 and is projected to continue to grow rapidly. Growth is driven by increasing urbanisation, demand for micro-mobility solutions, and supportive government policies. From today, more than 20,000 Luko customers will get access to Laka’s 5* rated insurance from day one, with no interruption of cover.
Fanny Limare-Wolf, CEO of Allianz Direct France added, “We are excited about our agreement with Laka for the acquisition of our e-scooter portfolio. Laka’s strong commitment to customer service makes them the ideal partner to ensure a smooth transition for our policyholders. This strategic step allows Allianz Direct to sharpen our focus on home and travel insurance and drive innovation, delivering even greater value to our customers.”
In addition to actively acquiring in this space, Laka continues to expand its customer base across Europe both direct to consumer, and with partners such as Decathlon, Gazelle, Brompton, Riese & Müller, Gaya and Tenways, and via leasing providers.
