Zego raised $150 million in series C led by DST Global.
Zego, a London, UK-based digital seller of insurance products, announced completing a financing round of $150 million, in what constitutes series C.
The money was raised from investors led by DST Global and included contributions from new backer General Catalyst and existing shareholders Target Global, Balderton Capital and Latitude. Also contributor was Taavet Hinrikus, who is in the board as well, joined by General Catalyst's founder and MD, Joel Cutler.
Zego, founded in 2016 by Harry Franks, Sten Saar (CEO) and Stuart Kelly, provides insurance policies that are can cover various different industries of all shapes and sizes, provided in an easy and flexible way. The company provides flexible motor insurance to the gig economy, via work providers, such as Uber and Deliveroo, and to fleet businesses, and new mobility services such as car sharing, car leasing and e-scooter companies. Zego offers a range of policies from by-the-hour insurance to annual cover, providing more flexibility than traditional insurance policies, with pricing based on usage data from vehicles.
To date, Zego has provided more than 17 million insurance policies and covered more than 200,000 vehicles in five countries.
Prior to this round the company has raised some $50 million.