Update: UK Insurtech Hiro Raises More Than £1.6 Million Through Equity Crowdfunding Campaign on Seedrs

 

Hiro, a UK-based insurtech startup, quickly secures £1.6 million through its equity crowdfunding campaign on Seedrs. The funding round, which originally sought to raise a minimum of £1.2 million, has so far attracted over 500 Seedrs investors. 

As previously reported, Hiro describes itself as a home insurance challenger that helps customers to actively protect their home using smart technology instead of relying on compensation after a situation. Hiro CEO, Krystian Zajac, recently explained:

“Insurance is currently locked in this weird stand-off with customers. where the vast majority of customers don’t trust insurers to pay out, and yet payouts are the number one cost-center for insurers. Hiro is about putting customers and insurers on the same team for the first time – working together to prevent the most common causes of damage, and thereby reducing costs for everyone.”

Hiro also reported that its customers are able to get access to smart technology from over 30 leading brands at members-only discounts via an in-app “smart shop.” They may also use the technology they already own to unlock discounts on their premiums from the outset.

Hiro insurance is on-demand – start and end whenever you like; no cancellation fees, no admin fees, no nonsense. It’s tech-first, more like Netflix or Uber than home insurance. It lives in your mobile and speaks your language.”

The Hiro app scans the customer’s home network to detect the devices they have installed and automatically apply a discount. Hiro also rewards customers for protecting their homes using smart technology like video doorbells, smart cameras, security systems, and smoke detectors. Hiro offers customers up to 25% discount on their policy plus deep discounts to purchase further technology to protect their homes.

The company is now offering 22.71% in equity at a £5.5 million pre-money valuation through the investment round, which is set to close at the end of January


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