Hakuna enables merchants to offer product protection as a service. This means that customers have the option to add an extended warranty or insurance to their shopping cart when making a purchase. No additional steps or data entries should be required. With various insurance products, the startup covers both technical defects and accidents and theft.
At the end of last year, Hakuna was able to complete pre-seed financing of 1.5 million euros. The money came from investors Visionaries Club and Discovery Ventures. In addition, Klarna founder Victor Jacobsson and Sumup founder Marc-Alexander Christ also participated.
Insurance is meant to “dramatically extend the lifecycle of products”
The startup was founded in 2021 by Sebastian Jost (former CCO of Sumup), Orhan Köroglu (former managing director of Abracar) and Rupert Mayer (former head of product at Abracar). Hakuna’s customers include various watch and jewelry retailers, as well as office supply provider Office Partner and e-bike provider Sushi Bikes. Co-founder Orhan Köroglu explains:
“When you insure products, it leads to repair and recycling, which can dramatically extend the lifecycle of products and make a major contribution to greater sustainability.”
With the 4 million euros now raised, the startup wants to invest primarily in further developing its product. In addition, the Munich-based company wants to intensify its internationalization efforts and accelerate the onboarding of its customers.
Christian Nagel, partner and co-founder of Earlybird, says:
“We are confident that the Hakuna team, with their shared B2B insurtech background, their commitment to product protection, and their high level of professionalism, will enable merchants of all sizes and industries to offer an Apple Care-like user experience. We look forward to supporting them on this journey.”
