Hokodo, a London and Paris-based insurtech that provides B2B marketplaces and accounting platform with small business insurance through APIs, announced earlier this week it secured €1.9 million through its latest seed funding round, which was led by European venture capital firm Anthemis. Founded earlier this year, Hokodo describes itself as a technology company that aims to make financing and insurance available to the many small businesses that are “left behind by today’s financial services industry.” The company explained:
“Hokodo provides B2B marketplaces and other platforms with transparent, easy-to-integrate financing and insurance solutions. This way, simple, meaningful product propositions can reach SME clients, putting an end to the many layers of intermediaries and opaque commissions, unproductive fine print and cumbersome sales journeys.”
The company also noted that it provides insurers and other financial services providers with a cost-efficient way to source and address small business needs. Speaking about the investment, Ruth Foxe-Blader, Director at Anthemis stated:
“Traditional FS providers cannot fully service online marketplaces, accounting platforms and other SME-focused technology businesses. In Hokodo we have found a team that really understands how to bridge the gap between insurance and technology. In our view, Hokodo’s robust, compliant tech stack and simple APIs represent a great idea whose time has come.”
Louis Carbonnier, Co-Founder at Hokodo, added:
“We are really thrilled to be partnering with Anthemis who are specialised in financial services and insurance. This fundraise will enable us to expand the already incredible team of data scientists, tech gurus and finance experts as well as continue development of our tech-stack, build out additional APIs and launch additional insurance products.”
Funds from the seed round will be used to continue growth and expansion of the Hokodo platform.