Munich-based Hakuna locks in €4 million for its embedded insurance solution
Summary
While retailers increasingly go digital, new demands need to be met from consumers who are looking for more convenience online, rather than just access to products. Hakuna allows merchants to offer embedded protection plans and extended warranties on products purchased online – providing consumers with a better service. Insuring products leads to repairing and recycling, which increases the life cycle of products enormously and can make a major contribution to greater sustainability.” In the past year since the young insurtech’s launch, a few milestones have already been reached, showing great promise for the startup’s future. Hakuna takes an API-first approach to its insurance product, delivering tailored protection and warranty extensions that blend into each merchant’s value proposition as needed. Dr. Christian Nagel, Partner and Co-Founder of Earlybird, said: “We are confident that Hakuna’s team, with their common B2B InsurTech past, dedication to product protection, and super high level of professionalism, will succeed in enabling merchants of any size and industry to offer an AppleCare-like user experience.