Tech

Focusing on the Gig economy, insurtech Zego raised its valuation to $ 1.1 billion upon receiving a $ 150 million investment.

We often talk about how insurtech initiatives are on the rise lately. Oscar Health’s successful public offering in recent days was one of the most important examples of this; We have explained this public offering and much more in detail. Now, there is another initiative on insurtech that draws attention; focusing on the gig economy Zego.

Those closely following Webrazzi are also familiar with the news that Zego, which we published in recent weeks, met with DST Global for a $ 150 million investment. Now these negotiations are concluded and Zego’s DST Global Y General catalyst in the new investment tour led by Received 150 million dollars of investment we can say. However, the most important return on this investment is that it has increased the valuation of the company to more than a billion dollars and has made Zego the title of unicorn company. For Europe’s newest unicorn thanks to its $ 1.1 billion valuation his company became Zego.

The company says it will use the investment it receives to accelerate its global expansion. Zego, which currently operates with a team of 265 people, aims to double its workforce by the end of 2021.

Founded in 2016, Zego operates as a company offering flexible minute-to-minute insurance products and annual coverage. Founding partners of Zego Harry franks Y Sten saarpreviously worked for Deliveroo. Zego is currently Uber, Deliveroo, Just Eat, Uber Eats, Freenow, Bolt, Stuart, Gophr, GoGetters It provides services to companies that we frequently write in our news as. Ultimately, the experience of the founders of the company is also reflected in the selection of clients.

The company had received $ 51 million in investments from investors such as Balderton Capital and Tom Stafford, a partner at DST Global. Other current supporters include Taavet Hinrikus, co-founder of Latitude, Target Global, and TransferWise. Zego claims that it has provided more than 230 million hours of insurance protection to more than 110,000 vehicles since its inception.

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