Zego raises $150M Series C to accelerate its growth in the commercial motor insurance market

MAR 10, 2021

The round values Zego at $1.1 billion, making it the UK’s first insurtech unicorn.

The highly oversubscribed round was led by DST Global with new backers including General Catalyst and existing investors including Balderton. Zego's Series A was led by Balderton in 2017. 

Zego is a commercial motor insurance company that powers opportunities for businesses, from self-employed drivers and riders to entire fleets of vehicles. It combines advanced technology with multiple data sources to offer insurance products that save businesses time and money. 

The London-based business will now accelerate the expansion of its product offering across Europe and beyond and double its headcount to over 500 employees. You can see open opportunities here to join the team! 

Listen to Sten Saar, CEO of Zego, talk about why Zego exists, its mission and how only the very best and most diverse talent will help Zego get to where it wants to go.

It is clear that the way people use vehicles is undoubtedly changing, and what’s become ever more apparent is that the traditional, rigid model of insurance is no longer fit for purpose. We founded Zego to offer a more effective solution for customers, and with the support of our amazing backers and the work of our team, we are in the best possible position to expand this offering on a global scale.

Sten Saar, CEO and Co-founder of Zego

Sten Saar - CEO of Zego

Zego will continue investing in technology, following its recent acquisition of telematics company, Drivit, and will double down on its fleet offering, recognising changes in consumer behaviour that are driving an increased demand for new mobility services. 

Zego has provided 17M+ insurance policies & covered 200,000+ vehicles in 5 countries

Zego offers a range of cover options from flexible pay-as-you-go insurance to annual policies, and so far, has provided more than 17 million insurance policies and covered more than 200,000 vehicles in five countries.

The Zego fleet portal

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