Hakuna enables retailers 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 entry are required. With various insurance products, the startup covers technical defects as well as accidents and theft.
At the end of last year, Hakuna secured €1.5 million in pre-seed financing. The money came from investors Visionaries Club and Discovery Ventures. Klarna founder Victor Jacobsson and Sumup founder Marc-Alexander Christ also participated.
Insurance should “extend the life cycle of products enormously”
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 of Abracar). Hakuna's customers include various watch and jewelry retailers, as well as the office equipment supplier Office Partner and the e-bike provider Sushi Bikes. Co-Founder Orhan Köroglu explained:
“Insuring products leads to repair and recycling, which extends the life cycle of the products enormously and can make a significant contribution to greater sustainability.”
With the €4 million it has now raised, the startup intends to invest primarily in the further development of its product. Furthermore, the Munich-based company plans to intensify its internationalization efforts and accelerate customer onboarding.
Christian Nagel, Partner and Co-Founder of Earlybird, says:
"We are confident that the Hakuna team, with their shared B2B insurtech heritage, commitment to product protection, and high level of professionalism, will enable merchants of all sizes and across all industries to offer an Applecare-like user experience. We look forward to supporting them on this journey."
