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§ Private Profile · Tallinn, Estonia
Insurtech company providing tailored, on-demand insurance for gig workers and shared assets in the platform and sharing economy.
Based in Tallinn, Estonia, Cachet is an insurtech company that operates as a licensed broker providing tailored, on-demand insurance solutions for gig workers and the broader platform economy. The proprietary system aggregates unique user data to underwrite customized digital policies covering shared mobility assets like cars and electric scooters, as well as independent contractors such as ride-hailing drivers and delivery couriers. Operating with a workforce of 21 to 50 employees, the enterprise currently serves a growing customer base of approximately 40,000 users across the Baltic region and expanding European markets. To support its ongoing geographic expansion and product development, Cachet has raised $5.7 million in total funding, drawing financial backing from prominent institutional investors including UNIQA Ventures, Icebreaker.vc, Techstars, and Barclays. The company was founded in 2018 by Hedi Mardisoo and Kalle Palling.
Cachet has raised $7.0M across 2 funding rounds.
Cachet has raised $7.0M in total across 2 funding rounds.
Cachet has raised $7.0M across 2 funding rounds. Most recently, it raised $6.0M Series A in May 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2022 | $6M Series A | Truffle Capital | Icebreaker.vc, Uniqa Ventures | Announced |
| Sep 1, 2020 | $1M Seed | Icebreaker.vc | Elkstone, Outrun Ventures, Chris Adelsbach, Kartik Varma, Martin Cass, Richard Howard, Barclays, Lemonade Stand, Techstars | Announced |
Cachet has raised $7.0M in total across 2 funding rounds.
Cachet's investors include Truffle Capital, Icebreaker.vc, UNIQA Ventures, Elkstone, Outrun Ventures, Chris Adelsbach, Kartik Varma, Martin Cass, Richard Howard, Lemonade Stand.
Cachet (cachet.me) is a European fintech technology company specializing in data-driven insurance solutions for the gig economy, fleets, and modern workforces. It develops a usage-based car insurance marketplace platform, a digital wallet for gig service providers, and fleet management tools with smart analytics and integrations. Cachet serves gig workers (e.g., ride-hailing drivers, cyclists, scooterists), fleet operators, and businesses by solving the problem of inflexible, one-size-fits-all insurance premiums through personalized, real-time rates based on actual usage, driving habits, and working hours—offering average customer savings, high satisfaction (e.g., strong NPS scores), and digital simplicity for policies, claims, and documents.[2][4][5]
The company emphasizes transparency, ethical data use (as a MyData Global member), and scalability, with products like City Rider for non-motorized road users and comprehensive motor insurance. Growth momentum includes recognitions such as DIA Top 100 InsurTechs 2019, Baltic Fintech Startups to Watch 2020, Techstars Barclays accelerator, Plug and Play Insurtech finalist, and a €90,973 grant (Dec 2024–Sep 2025) for automating processes, e-invoicing, and data infrastructure to fuel data-driven products.[4][5]
Cachet's story began with a mission to create fairer, data-driven insurance tailored for gig workers and fleets in Europe, addressing gaps in traditional models that ignore real-life variability like working hours and habits.[4][5] Founded amid the rise of the platform and gig economy, it emerged from insights into how insurers underutilized telematics and behavioral data—pioneering flexible coverage inspired by platform economics.[4][5]
Key early traction came from accolades validating its potential: selected for DIA Top 100 InsurTechs (2019), Hidden Treasure in Extended FinTech, Baltic Fintech Startups to Watch (2020), Techstars Barclays London Accelerator (2020), Early Metrics high-growth rating, and Plug and Play Insurtech finalist (2021).[4] This propelled expansion, including a recent EU grant for operational scaling through mid-2025.[4]
Cachet rides the gig economy and InsurTech wave, capitalizing on platform economy growth (e.g., Uber, Deliveroo) where traditional insurance fails flexible workers—timing aligns with rising telematics adoption and EU data regulations favoring ethical, user-controlled models.[4][5] Market forces like real-time economy demands, automation needs, and post-pandemic fleet digitization boost it; the €90k grant underscores governmental support for scalable data infrastructure.[4]
It influences the ecosystem by normalizing usage-based insurance, pushing incumbents toward transparency and integrations, while accelerating fintech innovation in Baltics/Europe—evident in global InsurTech 100 inclusion and accelerator pedigrees.[2][4]
Cachet is poised to expand data-driven products via its 2024–2025 grant, automating ops and enabling AI-enhanced personalization amid surging gig work (projected to grow 20%+ annually in Europe). Trends like embedded insurance, EV fleets, and MyData compliance will shape it, potentially evolving into a full platform for real-time economy services. As InsurTech matures, Cachet's focus on fairness and integrations positions it to capture more market share, redefining "smart insurance" from niche disruptor to standard. This builds on its core mission: making coverage as dynamic as modern work itself.[4][5]