Cachet Secures New Funding to Support European Gig and Mobility Platforms
Tallin Insurtech Cachet Raises €11 Million
Tallinn-based startup Cachet, a provider of insurance for ride-hailing, scooter, and gig-work apps, has closed a funding round led by Spintop Ventures. This brings their total capital to approximately €11 million, with Truffle Capital and Icebreaker.vc also participating.
Cachet operates as a licensed broker, offering tailored insurance policies based on the specific use of each vehicle or worker, directly integrated into the apps. This contrasts with traditional annual policies that don't account for the dynamic risk associated with on-demand services.
Market Expansion and New Products
With a presence in 16 European markets and over 50 platform clients, including Bolt, Voi, Ryde, and Turo, Cachet has seen significant growth and recorded its first EBITDA profit in 2025. The new funding will be allocated to product development and expanding their sales team.
Cachet aims to expand coverage for emerging trends like employer-of-record setups and self-driving vehicles, as seen in driverless car trials in Finland. They also plan to roll out a tool that analyzes live fleet data to help clients mitigate risks during the policy period, focusing on prevention over post-incident claims.
A New Approach to Insurance
"We are building the adaptive insurance infrastructure for what's next, from shared and autonomous vehicles to distributed work and AI liability," said Hedi Mardisoo, Cachet's CEO and co-founder.
This funding round stands in contrast to the aggressive capital expenditure of some insurance startups, opting for organic growth and a strategic approach to the rapidly evolving market.
About Cachet
Founded in 2018 by Hedi Mardisoo and Kalle Palling, Cachet raised €5.5 million in 2022, also led by Truffle Capital. This latest investment marks Spintop Ventures' first in Estonia.
By Cristian Dina, CRO at The Next Web.