Laka secures £6.5 million debt facility from HSBC Innovation Banking to accelerate European expansion and M&A strategy. * The latest funding brings Laka's Series B to £14.1 million and cements its position as Europe's category-defining green mobility insurer. * This tranche of debt funding will be used to continue and expand Laka's M&A strategy - which has included 3 notable acquisitions in the last 24 months. * Laka will continue to grow across Europe - consolidating its business across a growing but fragmented mobility industry. London, UK - 13 November 2025 - Laka, the award-winning insurer for cyclists and green mobility users, has secured a £6.5 million Venture Debt Facility from HSBC Innovation Banking, bringing its total Series B funding to £14.1 million. The new financing will support further strategic acquisitions and expansion across Europe, reinforcing Laka's position as the go-to insurer for e-bikes, e-scooters and sustainable mobility. This follows Laka's recent £7.6 million Series B equity round, led by Shift4Good and MS&AD Ventures, announced earlier this year. A clear category winner emerging: Laka has grown from an award-winning cycle insurer into a multi-vertical European mobility platform, operating across nine EU markets and the UK. Its unique collective-driven insurance model challenges traditional insurance by ensuring riders only pay for what's needed, not what's expected - with zero excess, transparent pricing, and a fairer approach to claims. The company has executed three acquisitions in just 24 months, building an unmatched European footprint and track record: * Luko's e-scooter insurance portfolio (2025) - acquired from Allianz Direct, adding 19,000 customers and expanding into micromobility. * CoverCloud's bike insurance renewal rights (2024) - deepening Laka's position in the UK. * Cylantro (2023) - a French e-bike insurance broker, unlocking one of Europe's fastest-growing mobility markets. This disciplined M&A strategy underlines Laka's financial strength, operational maturity, and category leadership, at a time when others in the space are still seeking scale. By 2030, the global micromobility market is projected to more than double in value - from around $160 billion to $340 billion, according to McKinsey. Europe is expected to be the largest regional contributor globally, growing from about $60 billion in 2022 to $140 billion by 2030. Despite the rapid adoption of micromobility, insurance for this sector remains highly fragmented. This new funding will allow Laka to continue this M&A strategy, and cement its position as an emerging category leader. Beyond insurance: building the green mobility infrastructure: Through its partnerships with Decathlon, Brompton, Gazelle, Riese & Müller, Tenways, Ribble and others, Laka powers protection for riders, retailers and leasing platforms. Beyond traditional cover, its verticalised platform now includes: * Recovery and replacement services for stolen e-bikes and e-scooters. * Parts salvaging and recycling to cut emissions and waste. * Embedded commercial solutions for manufacturers and retailers. Tobias Taupitz, CEO & Co-Founder of Laka, said: "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. This partnership with HSBC Innovation Banking gives us the flexibility to move fast on strategic opportunities and to further consolidate a fragmented market. In a space where scale and trust matter most, Laka is clearly emerging as the natural leader." Trusted by world-class investors: Laka is backed by Shift4Good, MS&AD Ventures, Ponooc, Achmea Innovation Fund, Autotech Ventures, Motive Partners, Creandum, LocalGlobe, 1818 Ventures, Republic (formerly Seedrs), Porsche Ventures, and a number of high-profile angel investors. Their continued support underlines confidence in Laka's mission to build the category-defining insurer for the mobility revolution. ENDS Press contact: Harry Ashcroft | Perseid PR [email protected] | +44 7429108277 About Laka: London-based Laka, winner of the 'Best Cycle Insurance Provider' Award eight years in a row, has challenged outdated traditional insurance to provide customers and businesses with a fairer, collective-driven approach to insurance. Laka customers pay no upfront premiums, and are instead charged based on the cost of claims submitted by the collective the previous month. Fewer claims result in lower charges. Laka customers work together as a collective and share the cost of claims. Laka handles all claims, divides the cost fairly and limits each customer's maximum monthly spend with a cap based on the value of the equipment insured by each individual member. Laka members fully benefit from lower costs but are also protected if there are a high volume of claims in any given month.

Laka secures £6.5M debt facility from HSBC to fuel European expansion. 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.