Buckle is a digital financial services company that offers affordable insurance for rideshare, delivery, and other gig‑economy drivers. It launched its core rideshare policy in 2019 combining personal and commercial coverages, and through acquisitions in 2020 and 2021 it obtained 49‑state insurance licenses via Gateway, American Service Insurance Company, and American Country Insurance Company. Buckle serves drivers for platforms including Uber, Lyft, DoorDash, Gopuff, Instacart, Amazon Flex, Uber Eats, Grubhub, Favor, Postmates, and Caviar. The company relies on a portfolio of reinsurance partnerships, recently renewing incumbent reinsurance agreements and adding a new reinsurer to support growth. Its business strategy includes expanding its gig product across additional states and broadening into insurance and credit products nationwide. Buckle has raised approximately $115 million of capital to date and used the latest debt upsizing to support distribution and growth on its carriers. Buckle operates a full-stack insurance-as-a-service platform focused on the U.S. gig economy, offering insurance and credit products to lower-income gig workers. Its core hybrid auto insurance policy for rideshare and delivery drivers uses Transportation Network Company (TNC) platform data to underwrite policies, replacing credit-score-based pricing. Buckle runs a multi-carrier insurance platform, has acquired and recapitalized three admitted carriers (Gateway Insurance Company, American Service Insurance Company, and American Country Insurance Company), and works with MGA partners to broaden product coverage. The company recently launched an auto financing product in Georgia with plans to expand credit offerings to other states. The new capital will be used to scale the digital insurance platform nationwide and to introduce additional insurance products and partnerships. Buckle has closed over $100 million in debt and equity funding since inception. Buckle provides total insurance coverage tailored to rideshare and gig-economy drivers, replacing standard auto policies with continuous 24x7 personal and commercial protection. Its core rideshare insurance policy launched in 2019 in collaboration with Munich Re’s Digital Partners and was later expanded through a partnership with Lyft. The company uses new sources of data to underwrite risk with the stated goal of making coverage comprehensive, affordable, and easy to obtain. In June Buckle announced the acquisition and recapitalization of Gateway Insurance Company, bringing 47 state insurance licenses into its operations. Buckle says it will use funding to reinvent the insurance model for drivers and expand coverage to transportation network companies, taxis, limousines, and livery businesses using the Curb app. The company plans to launch additional products and partnerships as it expands nationwide from its Jersey City, N.J. base.

Total raised

$116M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Mar 2022