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The UK fintech that aims to insure the gig economy just won more funding. Here's why one VC said he's 'doubled down again' on backing the startup

Posted On: Jun 18, 2019   |   Posted By: Business Insider

The UK fintech that aims to insure the gig economy just won more funding. Here's why one VC said he's 'doubled down again' on backing the startup

London-based insurtech firm Zego has secured $42 million in series B funding to boost its European expansion plans.
The company covers much of the gig economy's insurance needs with flexible insurance plans.
VC funds such as Balderton Capital, Latitude, and Target Global contributed while TransferWise co-founder Taavet Hinrikus also invested and joins the company's board.
Investors have piled in to fund yet another UK fintech as the market for insurance disruption gets even bigger.
London-based insurtech firm Zego has secured $42 million in series B funding to boost its European expansion plans. The success of food delivery companies like Deliveroo, which recently secured $575 million in funding from Amazon , and Uber Eats in the UK has led to a boom in demand for new forms of insurance for the gig economy.
Zego is a startup, founded by serial entrepreneur Sten Saar, which provides flexible insurance products ranging from minute-to-minute to annual cover.
It takes the company's funding to $51 million...

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