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- Zego
Zego Valuation, Funding & Investors
Zego is valued at $1.1B as of December 2021.
Last Zego valuation
$1.1B
Series C · Dec 2021
Last Zego funding round
$28M
Strategic investment · Apr 2026
Cumulative funding Zego raised
$310M
across 7 funding rounds
Key investors in Zego
Balderton Capital
Target Global
Taavet Hinrikus
Latitude
Socii Capital
General Catalyst
About Zego
Zego is a London-headquartered motor insurance provider for consumers, self-employed drivers, and gig economy workers. The company delivers usage-based policies integrated with apps for delivery and rideshare services. Zego partners with platforms like Deliveroo and Uber to offer pay-as-you-go coverage, flexible monthly policies, and telematics for safer driving.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Subscription
Valuation
$1.1B (Dec 2021)
Sectors
Zego Valuation
Zego is currently valued at $1.1B, based on its Series C in December 2021.
The $80M round included General Catalyst, Socii Capital, Latitude, Target Global, Taavet Hinrikus and 1 other investor.
Zego's valuation has moved from $1.1B at its Series C in March 2021 to $1.1B in December 2021, across 2 priced rounds.
Zego valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2021 | Series C | $1.1B |
| Mar 2021 | Series C | $1.1B |
Zego Funding History
Zego has raised a total of $310M across 7 funding rounds.
Zego's first fundraising round was a $200K seed round in September 2016. The most recent completed round was a $28M strategic investment round in April 2026.
Zego funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Apr 2026 | Strategic investment | Sompo Holdings (lead) | $28M | - | - |
| Dec 2021 | Series C | General Catalyst; Socii Capital; Latitude; Target Global; Taavet Hinrikus; DST Global | $80M | $1.1B | Zego is a London-based insurtech company specializing in tech-enabled commercial motor insurance for businesses, including self-employed drivers, riders, and vehicle fleets, offering flexible products like pay-as-you-go and annual policies. It combines technology with multiple data sources to provide time-saving, cost-effective insurance, and obtained its own insurance license in 2019 to build and sell policies directly. The company started by targeting gig economy workers with motorbike insurance and has expanded its product range. In March 2021, Zego raised $150 million in a Series C funding round led by DST Global, with participation from new investor General Catalyst (whose Joel Cutler joined the board) and follow-on investments from existing backers including Taavet Hinrikus (Wise co-founder and board member), Target Global, Balderton Capital, and Latitude. This round valued Zego at $1.1 billion post-money, marking it as the UK's first insurtech unicorn. Prior to this, Zego had raised over $200 million since 2016 across multiple rounds and employed 265 people. The funds were earmarked for rapid expansion across Europe and beyond, doubling the workforce to over 500 by year-end 2021, continued technology investment, and supporting growth following the late-2020 acquisition of telematics firm Drivit. Post-round, Zego received accolades including 11th fastest-growing UK tech company in Deloitte Technology Fast 50 and Covid-19 Business Hero Award at Go Tech Awards 2021. |
| Mar 2021 | Series C | DST Global (lead); General Catalyst (lead); Balderton Capital; Socii Capital; Latitude; Target Global; Taavet Hinrikus | $150M | $1.1B | Zego is a London-based insurtech company specializing in tech-enabled commercial motor insurance for businesses, including self-employed drivers, riders, and vehicle fleets, offering flexible products like pay-as-you-go and annual policies. It combines technology with data sources to provide cost-effective insurance, earned its own insurance license in 2019, and expanded through acquisitions like telematics firm Drivit. On March 9, 2021, Zego raised $150 million in a Series C round led by DST Global and General Catalyst, with participation from Balderton Capital, Latitude, Socii Capital (via Phoenix Court), Taavet Hinrikus, and Target Global, achieving a post-money valuation of $1.1 billion and unicorn status as the UK's first insurtech unicorn. The funding enabled rapid expansion across Europe and beyond, doubling the workforce from 265 to over 500 employees by year-end, and continued investment in technology. All existing investors followed on in the round. Zego had previously raised over $200 million total since 2016, focusing on gig economy motorbike insurance initially before broadening to commercial products. |
| Jun 2019 | Series B | Target Global (lead); Balderton Capital; Socii Capital; Latitude; Taavet Hinrikus; Tom Stafford | $42M | - | Zego is a London-based insurtech startup founded in 2016 that provides flexible insurance products for gig economy workers and the emerging mobility sector. The company offers policies ranging from minute-by-minute to annual coverage for ride-hailing, food delivery, car rental, scooter sharing, and other mobility services, with particular strength in the UK's food delivery market through partnerships with Deliveroo, Just Eat, and Uber Eats. In June 2019, Zego raised $42 million in a Series B funding round led by Target Global, bringing total funding raised to $51 million. The round included participation from new investors Latitude and TransferWise founder Taavet Hinrikus, alongside existing backers Balderton Capital and DST Global's Tom Stafford. Target Global partner Ben Kaminski and Hinrikus joined Zego's board. The company planned to use the proceeds to expand into additional European markets (with France targeted for end of 2019 launch), enhance its technology platform, and double its workforce from 75 to 150 employees. Zego demonstrated strong momentum during this period, with the company reporting 900% year-over-year growth in the 12 months prior to the funding round. |
| Nov 2017 | Series A | Balderton Capital (lead); LocalGlobe; Start Ventures | $8M | - | Zego, a London-based insurtech founded in 2016 by Harry Franks, Sten Saar, and Stuart Kelly, raised £6 million in Series A funding led by Balderton Capital in November 2017. The round included participation from existing investors LocalGlobe and unnamed angel investors in the insurance sector. Zego addressed a gap in the insurance market by providing flexible, pay-as-you-go commercial insurance for self-employed gig economy workers, with initial focus on delivery drivers for platforms like Deliveroo. The company planned to deploy the capital to expand engineering resources and develop additional insurance products while extending geographic reach beyond its initial UK market. |
| Jul 2017 | Seed | LocalGlobe (lead) | $2M | - | - |
| Sep 2016 | Seed | Isfield Investments; Andy Phillipps | $200K | - | - |
Who has invested in Zego?
13 investors have backed Zego across its funding rounds, including Balderton Capital, Target Global, Taavet Hinrikus, Latitude, Socii Capital and General Catalyst.
Lead investors include Sompo Holdings, DST Global, General Catalyst, Target Global, Balderton Capital and 1 other investor.
Zego Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Nov 2017 | ||
| 3 | Participant | Jun 2019 | ||
| 3 | Participant | Jun 2019 | ||
| 3 | Lead | Jun 2019 | ||
| 3 | Participant | Jun 2019 | ||
| 2 | Lead | Mar 2021 | ||
| 2 | Lead | Jul 2017 | ||
| 2 | Lead | Mar 2021 | ||
| 1 | Participant | Nov 2017 | ||
| 1 | Participant | Sep 2016 | ||
| 1 | Participant | Sep 2016 | ||
This data is available for Pro users. Sign up to see all 13 Zego investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Zego
Zego has acquired 1 company to date.
Last acquisition by Zego was on December 9th 2020. Zego acquired Drivit for undisclosed valuation.
Latest Acquisitions by Zego
| Description | Drivit is a telematics provider that transforms smartphones into vehicle tracking devices through app integration. The Stockholm-based company delivers driving analytics on speed, acceleration, fuel efficiency, and safety behaviors for fleet managers and insurers. Founded in 2017, its SDK embeds into mobility apps without additional hardware, supporting electric and traditional vehicles. Drivit serves clients in Europe including ride-hailing operators and car rental firms to reduce accidents and emissions. |
| HQ Country | |
| HQ City | Lisbon |
| Deal Date | 9 Dec 2020 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Zego acquisitions and their M&A valuation multiples. Start Free Trial | |
Zego Competitors
Zego competitors include listed companies like Chesnara, Bowhead Specialty, ADNIC and Anadolu Sigorta, and private ones like Branch and Acko.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $1.2B | $52M | $1.1B | 22.0x | ||
| Publicly listed | $552M | $71M | $1.1B | 1.1x | ||
| Publicly listed | $1.1B | $152M | $1.1B | - | ||
| Publicly listed | $1.9B | $361M | $1.1B | 0.1x | ||
| Private | - | - | $1.1B | - | ||
| Private | $303M | - | $1B | 3.3x |
Zego Public Comps
Zego is still privately-owned, but its public comps include Chesnara, Bowhead Specialty, ADNIC, Anadolu Sigorta, International General Insurance, Trupanion, Heritage Insurance, Helia Group, Mercantil Servicios Financieros and Sagicor Group Jamaica.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.2B | $52M | 4.5x | 22.0x | 105.6x | - | |||
| $552M | $71M | 2.0x | 1.1x | 15.7x | 12.1x | |||
| $1.1B | $152M | 1.0x | - | 7.0x | - | |||
| $1.9B | $361M | 0.2x | 0.1x | 0.8x | - | |||
| $525M | $131M | 1.7x | 1.8x | 6.7x | - | |||
| $1.4B | $39M | 0.6x | 0.5x | 21.2x | 10.4x | |||
| $774M | $282M | 0.7x | 0.6x | 2.0x | - | |||
| $288M | $268M | 3.5x | 4.7x | 3.7x | - | |||
This data is available for Pro users. Sign up to see all Zego competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Zego
| When was Zego founded? | Zego was founded in 2016. |
| Where is Zego headquartered? | Zego is headquartered in London, United Kingdom. |
| Is Zego publicly listed? | No, Zego is a private, VC-backed company. |
| What is Zego's valuation? | Zego was last valued at $1.1B in its Series C in December 2021. |
| How much funding has Zego raised? | Zego has raised $310M across 7 funding rounds. |
| What was Zego's last funding round? | Zego's last funding round was a $28M strategic investment round in April 2026, led by Sompo Holdings. |
| Who are Zego's investors? | Zego's investors include Balderton Capital, Socii Capital, Latitude, Target Global, Taavet Hinrikus, General Catalyst, LocalGlobe, DST Global, Start Ventures, Isfield Investments and 3 others. |
| Which companies are comparable to Zego? | Companies comparable to Zego include Chesnara, Bowhead Specialty, ADNIC, Anadolu Sigorta, Branch and Acko. |
| How many companies has Zego acquired? | Zego has acquired 1 company, including Drivit. |
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