Zego
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Zego - overview
Established
2016
Location
London, -, UK
Primary Industry
Insurance
About
Based in London, UK, and founded in 2016, ExtraCover Limited, trading under the name Zego, provides insurance products for drivers and riders that work at shared economy firms. The company was founded by Harry Franks, Sten Saar, and Stuart Kelly. In April 2026, Zego raised USD 28 million in venture funding from Sompo Holdings. The company's line of products includes; private hire insurance, scooter insurance, car insurance, courier van insurance, and cyclist insurance, as well as fleet and new mobility insurance - catering to both business and personal use.
Notable partnerships with platforms like Uber, Deliveroo, Just Eat, Amazon Flex, and Bolt allow seamless integration of Zego's coverage into gig economy workflows. Its signature product, Sense Telematics, uses app-based driver behaviour scoring to reward safe driving with potential policy discounts, eliminating the need for physical black boxes. With over 71 million policies sold and more than 480,000 drivers covered as of May 2025, Zego generates revenue through policy sales, tailored add-ons, and embedded platform partnerships. The company will use the April 2026 funding to jointly explore and develop telematics-based insurance products tailored to the Japanese market.
Current Investors
LocalGlobe, Balderton Capital, Isfield Investments
Primary Industry
Insurance
Sub Industries
Personal Insurance, Commercial Insurance, Claims Administration & Processing, Web Applications
Website
www.zego.com/
Verticals
Artificial Intelligence, InsureTech, Mobile Apps
Company Stage
Series C
Total Amount Raised
Subscriber access only
Zego - financials
| Fiscal Year Ended | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|
| Revenue (USD) | 5,183,673 | 11,261,944 | 17,160,051 | - | - | - |
| % Revenue Growth (YoY) | - | 117.3% | 52.4% | - | - | - |
| EBITDA (USD) | (6,629,431) | (13,762,078) | (39,727,496) | - | - | - |
| Operating Income (USD) | (6,707,697) | (13,916,600) | (40,028,404) | - | - | - |
| Operating Margin | (129.4%) | (123.6%) | (233.3%) | - | - | - |
| % EBITDA Margin | (127.9%) | (122.2%) | (231.5%) | - | - | - |
| NET Income (USD) | (6,462,265) | (12,519,834) | (36,469,306) | - | - | - |
| % Net Margin | (124.7%) | (111.2%) | (212.5%) | - | - | - |
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