US $ 150mn
Amount raised in latest funding round last year
6 years
Since Zego was founded
17 years old
Saar founded his first business
with Franks ( who was Zego ’ s original CEO ) later becoming Chief Business Development Officer and Kelly moving from CTO to Principal Engineer . For Saar ’ s part , he has been CEO for four steady years now , and there seems to be no prospect of that changing soon .
Saar , who was originally Zego ’ s COO , admits they made the most of the opportunity : “ I ’ ve pretty much held every role in the business ,” he revealed last year . “ I started out in the customer service team , I worked in our finance department and did some work as a researcher and a tester for our tech team .”
Zego ’ s growth journey culminates in $ 1bn valuation The company began to pick up traction during 2018 , when it also added private hire taxi insurance alongside its existing options aimed at delivery riders . This was soon joined by public liability insurance , employers ’ liability insurance and van insurance . By the end of 2018 , Zego had expanded to Ireland and was beginning to subtly downplay the gig economy aspect of its insurance proposition – although that still remained a core part of its business – choosing instead to shine a light on its positive reviews and growing customer base .
By the summer of 2019 , the company was in full growth mode , raising US $ 42mn in a Series B round – seven times as much as its Series A – which was followed by a US $ 150mn Series C in March 2021 . A valuation of US $ 1.1bn secured its place as the UK ’ s first ever insurtech unicorn . More recently , Zego has focused on e-fleets and earlier this year announced bold European expansion plans . The insurtech is already present in six countries and wants to expand in the Netherlands and France .
“ I enjoy change and I embrace it but sometimes the intensity of change can weigh on me ,” Saar said about the leadership experience . “ The fast-paced nature of being a CEO in a startup is something that I really enjoy . I also get a lot of energy from the team and working with such great people every day . Working with so many exceptional people that are smart , driven and passionate definitely galvanises me . You feed off each other , and I really relish these moments .”
insurtechdigital . com 19