Tallinn-based InsurTech firm Cachet, which develops insurance solutions for the platform economy, has raised funding in a round led by Nordic venture capital firm Spintop Ventures, bringing its total capital raised to around €11 million, as Vestbee was informed. Existing investors Truffle Capital and Icebreaker.vc also participated.
- Founded in 2018 by Hedi Mardisoo and Kalle Palling, Cachet develops insurance solutions for shared mobility and gig economy platforms.
- The company integrates insurance coverage into platform operators’ systems, adapting policies to how vehicles and workers are used. It operates across 16 European markets and counts Bolt, Voi, Ryde and Turo among its partners.
- Cachet grew more than twofold year on year and achieved positive EBITDA in 2025, its first full year of profitability. The latest investment marks its first external funding round since reaching profitability.
Details of the deal
- With the fresh capital, Cachet plans to expand its product offering and sales team, further develop its risk-control technology, and strengthen its European presence.
- The startup also aims to adapt its insurance solutions to emerging business models, including employer-of-record arrangements and autonomous mobility.
