8 years ago

Honcho Secures £150K for Car Insurance Marketplace

  • Honcho, a Durham, UK-based insurtech startup, has secured a conditional investment of £150,000 from the Finance Durham Fund as part of an equity crowdfunding campaign on Crowdcube

  • The funding, pending the successful completion of the crowdfunding round, will be used to bring Honcho's app to the car insurance market in 2018

  • Honcho aims to create a UK-based reverse auction marketplace for car insurance, where insurers bid to win customers' business, potentially leading to lower premiums for drivers.

      • ProblemTechnology

      "Car insurance is expensive and difficult to compare, leaving drivers with limited choices and potentially overpaying for their coverage."

      Solution

      "Honcho provides a reverse auction platform where insurance companies compete to offer the best prices to customers, allowing drivers to find the cheapest and most suitable car insurance in the market."

      Covered on