UK insurtech start-up Honcho has raised £650,000 ($1.2m) through a crowdfunding venture after European Union funds supporting it were put on hold. The e-marketplace for insurance providers met its initial target of £850,000 within nine days, having secured funding from 713 investors. The Finance Durham Fund will also release £150,000 of investment it had made conditional on Honcho making a success of its crowdfunding effort.
UK insurtech start-up Honcho has raised £850,000 ($1.2m) through a crowdfunding venture after European Union funds supporting it were put on hold. The e-marketplace for insurance providers met its initial target of £650,000 within nine days, having secured funding from 713 investors. The Finance Durham Fund will also release £150,000 of investment it had made conditional on Honcho making a success of its crowdfunding effort.