Berlin’s embedded insurance provider Hakuna goes Matata in €4 million seed round

Self-titled, “The easiest upselling since e-commerce was invented” embedded insurance solutions startup Hakuna has raised €4 million in a seed round that’s aimed at supporting the firms’ continued development of its product, including expanded internationalisation efforts and a ramping up of the customer onboarding process.

The easiest way of describing Hakuna’s offering is to put it like so: imagine an AppleCare-like experience across the board, no matter where or at what e-tailer you choose to shop at. Got it? Good, me too. 

Building off the star scream success of the e-commerce industry across the pan(dem)ic, Hakuna’s founding team of Sebastian Jost (ex-CCO SumUp), Orhan Köroglu (ex-Managing Director abracar), and Rupert Mayer (ex-Head of Product at abracar), said earlier this year that insurance is the next logical advancement of the sector.

And apparently, their thinking has been on the money, as clients including Watchmaster, Sushi Bikes, and Office Partner have already adopted the platform’s offer, as well as multiple insurance partners delivering on their end of the deal and flipping the switch to live.

Now while when you think insurance, sustainability might not be the first thought that comes to mind, Köroglu, further elaborated about the products' additional upsides, “Insuring products leads to repairing and recycling, which increases the life cycle of products enormously and can make a major contribution to greater sustainability.”

Hakuna’s €4 million in a Seed round was led by Earlybird with participation from existing investors Visionaries Club, Discovery Ventures, Klarna founder Victor Jacobsson, SumUp founder Marc Christ, and other undisclosed angel investors.

On the investment, Earlybird’s Dr. Christian Nagel commented, “We are confident that Hakuna's team, with their common B2B InsurTech past, dedication to product protection, and super high level of professionalism, will succeed in enabling merchants of any size and industry to offer an AppleCare-like user experience. We are excited to support them on this path.”

And just so that it doesn’t go without saying - Matata.