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