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Technology

honcho

Status: Active

Jul 13th 2020 - Aug 22nd 2020

17 days left

Honcho is the UK’s first reverse auction marketplace for financial services that is revolutionising the car insurance market. In a reverse auction, the company works by inviting insurance providers to bid against one another. For just £1 a bid, insurance providers can go head to head to give the customer their best price and helping the latter to avoid any hidden charges and commission. Honcho's first major £830,000 funding round closed in March 2018 with support from crowd investors plus Maven Capital Partners. The company has just launched its first partner integrations, bringing its services to consumers of two major employee benefits platforms plus a major affiliate network. Honcho was selected for the 'Tech Nation Fintech programme 2019.' Honcho will use the investment to diversify its investor base and bring itself to a platform with support for Insurtech businesses, launch offers in other sectors, evolve its role as Platform as a Service (PaaS), and enhance marketing initiatives.

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  • £1,322,389
    pledged
  • 110%
    of goal

    £1,200,000
    target

    £6,887,336
    pre-money valuation

    14.84%
    equity available

    375
    investors

    £3,526
    pledge per investor

    09190148
    company number

    Active
    company status

    28/08/2014
    incorporated 6 years

    Equity Calculator
    Investment
    £
    Equity
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  • Internet Business Awards Category Award Winner 2015
  • Hertfordshire Business Awards Finalist 2014

As seen in:

  • The Guardian
  • Financial Times
  • Yahoo! Finance
  • The Times
  • The Daily Telegraph