Cachet, a Tallinn-based insurtech focused on insurance solutions for Europe’s platform economy, has raised its total capital to approximately €11 million following a new funding round led by Nordic venture capital firm Spintop Ventures. Existing investors Truffle Capital and Icebreaker.vc also participated in the round, which was announced on October 14, 2026. The company described the investment as its first outside funding since reaching profitability and becoming cash flow positive.
Funding Details and New Capital
The funding round was led by Spintop Ventures, with continued support from existing shareholders Icebreaker and Truffle. Cachet intends to use the fresh capital to expand its product development efforts and increase the size of its sales team across European markets. The company operates as a licensed insurance broker in 16 European markets and has grown more than twofold year over year.
Adaptive Insurance for Platform Work
Cachet designs insurance around how people work and how vehicles are actually used, embedding cover into platform operators’ systems while established insurers carry the underlying risk. Traditional insurance policies are often priced annually and arranged country by country, but platform risk changes with every trip or job. Cachet’s approach includes managing policies and claims, with coverage tailored to shared mobility, gig work, and new employment models such as employer-of-record arrangements.
Growth, Profitability, and Market Traction
The company reported that 2025 was its first full year of positive EBITDA, a milestone it achieved before seeking outside capital. Since its launch, Cachet has insured nearly 2 billion minutes of mobility, and its platform now covers more than 310,000 assets. Its partners include Bolt, Voi, Ryde, and Turo across multiple segments of the European platform economy.
Investor Perspective
Erik Wenngren, Partner at Spintop Ventures, said Cachet has taken a different path from insurance startups that burn capital to buy growth at high valuations. He noted that the company built its infrastructure, reached profitability, and then raised to go further and faster. Wenngren added that Cachet’s progress and ambition made it the right choice for Spintop’s first investment in Estonia.
Strategic Ambitions and New Risk Models
Hedi Mardisoo, CEO and co-founder of Cachet, said the company is building adaptive insurance infrastructure for emerging areas such as shared and autonomous vehicles, distributed work, and AI liability. Mardisoo added that Cachet already supports more than 50 platform economy partners to control risk and reduce losses. She said the new round prepares the company to accelerate and become the insurance partner for these new markets.
Product Roadmap and European Expansion
With the new capital, Cachet plans to adapt its offering to new ways of working through platforms, including employer-of-record models and autonomous mobility as it begins to appear in Europe. The company first proved its adaptive insurance approach in the Nordics and will now roll it out to further European markets. Cachet’s model turns live operating data into protection that evolves with every trip, job, and new risk.
Cachet’s latest funding reinforces its position as a profitable insurtech scaling within Europe’s platform economy. By combining insurance infrastructure with operational data, the company aims to make adaptive insurance the default for the next generation of mobility and work. The fresh capital is expected to support deeper market presence and new product capabilities as platform-based work and autonomous mobility continue to evolve.