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Laka has shared news of its most recent acquisition, the French e-scooter specialist, Luko, in a move which further highlights the businesses commitment to the European market.
This acquisition, from Alliance Direct France, “marks a significant step in Laka’s growth strategy”, and follows its acquisition of French bike insurance provider Cylantro in 2023, and the renewal rights acquisition of CoverCloud in 2024 – signalling an ongoing expansion of its presence across Europe, both for bicycle insurance and now micromobility more broadly.
Tobias Taupitz, CEO and co-founder, comments, “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.”
EU e-scooter market value and opportunity
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 comments, “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.”
An expanding business with a laser-like focus
Known as a specialist bicycle insurance provider, Laka is now expanding to offer insurance for alternative vehicle classes, with its sights set on being the micromobility insurer provider of choice across Europe.
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.
Only last month Laka also announced an extension to its existing partnership with Decathlon into Germany.
