Buckle, a U.S.-based financial services group, announced on Tuesday it secured $31 million through its Series A funding round co-led by HSCM Bermuda and Eos Venture Partners. Founded in 2017, Buckle state provides financial products and services to the shared economy. The company revealed that beginning with insurance, its goal is to offer streamlined and transparent transactions to those who turn their personal assets into revenue-driving opportunities.
“Buckle feels that things like insurance and financial services were not built for the specific needs of rideshare drivers, so we’re trying to do something about that. We build our products from the ground up to support drivers within the shared economy, and in doing so, legitimize the shared economy for all those involved.”
Buckle further revealed that last year it launched its core rideshare insurance policy that combines personal and commercial coverages, in collaboration with Munich Re’s Digital Partners. Earlier this year, it expanded the program through a partnership with Lyft. Buckle also recently announced the acquisition and recapitalization of Gateway Insurance Company (Gateway), including its 47 state insurance licenses.
Buckle added it is planning to launch other products and partnerships as it expands nationwide.