About Zego
Zego is a company based in London (United Kingdom) founded in 2016 by Harry Franks. It operates as a Subscription Services, and Pay-per-Use / Usage-Based. Zego has raised $201.71 million across 6 funding rounds from investors including Balderton Capital, Target Global and Taavet Hinrikus. Zego has completed 1 acquisition, including Drivit. Zego offers products and services including Car Insurance, Delivery Insurance, Private Hire Taxi Insurance, Van Insurance, and Sense Telematics Insurance. Zego operates in a competitive market with competitors including Cuvva, Marshmallow, By Miles, Octo Telematics and The Floow, among others.
- Headquarter London, United Kingdom
- Founders Harry Franks
- Stage Unicorn
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Extracover Limited
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$201.71 M (USD)
in 6 rounds
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Latest Funding Round
$150 M (USD), Series C
Mar 10, 2021
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Investors
Balderton Capital
& 16 more
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Employee Count
Employee Count
- Investments & Acquisitions
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Products & Services of Zego
Zego offers a comprehensive portfolio of products and services, including Car Insurance, Delivery Insurance, Private Hire Taxi Insurance, Van Insurance, and Sense Telematics Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Comprehensive car insurance is provided for personal driving.
Flexible insurance is offered for food delivery drivers.
Tailored insurance is provided for private hire taxis.
Reliable cover is available for van business use.
App-based telematics insurance is offered for drivers.
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Funding Insights of Zego
Zego has successfully raised a total of $201.71M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $150 million completed in March 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series C — $150.0M
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First Round
First Round
(07 Oct 2016)
- Investors Count 17
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2021 | Amount | Series C - Zego | Valuation | DST Global Partners | |
| Jun, 2019 | Amount | Series B - Zego | Valuation | Target Global | |
| Jan, 2019 | Amount | Debt – Venture - Zego | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Zego
Zego has secured backing from 17 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Balderton Capital, Target Global and Taavet Hinrikus. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm
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Founded Year | Domain | Location | |
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Multistage venture capital investments are focused on technology sectors.
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Founded Year | Domain | Location | |
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Venture finance services, including debt and equity, are provided to capital-backed companies globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Zego
Zego has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Drivit. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Vehicle & driving analytics solutions
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2015 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Zego
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Zego Comparisons
Competitors of Zego
Zego operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Cuvva, Marshmallow, By Miles, Octo Telematics and The Floow, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online usage-based car insurance solutions
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| domain | founded_year | HQ Location |
Auto insurance is delivered via app to individual drivers.
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| domain | founded_year | HQ Location |
Pay-per-mile auto insurance is offered through a mobile app.
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| domain | founded_year | HQ Location |
Provider of telematics and data analytics solutions for the insurance and connected mobility sectors
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| domain | founded_year | HQ Location |
Provider of telematics data for insurance
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Zego
Frequently Asked Questions about Zego
When was Zego founded?
Zego was founded in 2016.
Where is Zego located?
Zego is headquartered in London, United Kingdom. It is registered at London, England, United Kingdom.
Who is the current CEO of Zego?
Sten Saar is the current CEO of Zego.
Is Zego a funded company?
Zego is a funded company, having raised a total of $201.71M across 6 funding rounds to date.
What does Zego do?
Insurance solutions are offered by Zego for various motor vehicles including cars, vans, scooters, and motorbikes. Coverage is provided for personal use, business use, courier services, and delivery work. Specialized policies are designed for new drivers, private hire taxi drivers, and delivery drivers working with platforms like Uber, Deliveroo, and Just Eat. Telematics-based insurance through the Sense app is utilized to offer personalized pricing based on driving behavior. Operations are extended across the UK and several European countries, catering to self-employed individuals and growing businesses in the motor insurance sector.
Who are the top competitors of Zego?
Zego's top competitors include Marshmallow, Cuvva and Octo Telematics.
What products or services does Zego offer?
Zego offers Car Insurance, Delivery Insurance, Private Hire Taxi Insurance, Van Insurance, and Sense Telematics Insurance.
How many acquisitions has Zego made?
Zego has made 1 acquisition, including Drivit.
Who are Zego's investors?
Zego has 17 investors. Key investors include Balderton Capital, Target Global, Taavet Hinrikus, Tom Stafford, and TriplePoint Capital.
What is Zego's valuation?
The valuation of Zego is $1.1B as of Mar 2021.
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