Offering e-commerce companies a range of embedded insurance solutions, Berlin-based hakuna has raised €1.5 million in a pre-seed funding round. The goal of the startup is to provide e-tailers with a quick and easy way to offer customers an AppleCare-like experience, while at the same time increasing conversion rates and ultimately, profits. The fledgling startup is expecting to use the funding to roll out the product, with selected first customers having access to the service by years’ end.
With the pandemic driving e-commerce numbers through the roof, get-it-to-my-doorstep-by-tomorrow and buy-now-pay-later are services we’ve all come to expect. With this in mind, hakuna founders Sebastian Jost, Orhan Köroglu, and Rupert Mayer believe that insurance products are the next logical advancement in the sector, and thus, a startup is born.
“Currently, there is no easy and scalable way for merchants to embed insurance products into their e-commerce platform,” commented Köroglu. “Hakuna provides the complete infrastructure with an API-first approach that delivers tailored protection plans and warranty extensions, which perfectly blend into the merchant’s value proposition.”
Hakuna’s €1.5 million pre-seed round was led by Visionaries Club and saw participation from Discovery Ventures, Klarna co-founder Victor Jacobsson, SumUp co-founder Marc Christ, and additional undisclosed angel investors.
“Hakuna is unlocking access to those insurance products for online merchants of any size and industry, which has previously been accessible only to the top 1% of merchants and is the first player in Europe to do so. We are happy to support the strong founding team on their mission,” comments Visionaries Club founding partner Sebastian Pollok.