Earlier this year, Klarna founder invested in the $5M round of German embedded finance firm Monite. Now, Berlin-based Hakuna, an embedded insurance provider for e-commerce and retail companies, has closed €4 million in seed funding.
Investment from Klarna, SumUp founders
The round was led by Earlybird (they invested in CELUS and Freeverse recently) alongside participation from Visionaries Club, Discovery Ventures, Klarna founder Victor Jacobsson, SumUp founder Marc Christ, Target Partners founder Dr. Berthold von Freyberg, and other top tier business angels.
The fresh funds will support Hakuna in onboarding its merchant pipeline, doubling down on the product side and extending its global presence and its offline offering. Backing further insurance product development, the investment will lead to a more sustainable product life-cycle environment.
“We are very proud to provide access to insurance products for online merchants of any size and industry, which has previously been accessible only to the top 1%,” said Hakuna co-founder and Co-CEO Orhan Köroglu. “Insuring products leads to repairing and recycling, which increases the life cycle of products enormously and can make a major contribution to greater sustainability.”
Dr. Christian Nagel, Partner and Co-Founder of Earlybird, says: “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. We are excited to support them on this path.”
Embedded insurance products
Founded by serial entrepreneurs (ex-CCO SumUp), Orhan Köroglu (ex-Managing Director abracar) and Rupert Mayer (ex-Head of Product at abracar), Hakuna provides embedded insurance solutions for e-commerce platforms and retailers. It is Europe’s front runner when it comes to fully embedded insurance products into customer journeys and checkouts.
With Hakuna, merchants of any size and industry can offer a user experience on par with that of AppleCare. Its API-first approach delivers tailored protection plans and warranty extensions that perfectly blend into the merchant’s value proposition. Merchants can integrate Hakuna into their existing e-commerce stack with minimal development effort.
Multiple insurance partners went live, including well-known merchants such as Watchmaster, Sushi Bikes or Office Partner embedded the end-to-end Protection Technology Platform. Its product protection plans come with customer-friendly conditions and best-in-class service, including our fully digital claims process.
With Hakuna, merchants can increase their conversion rates and customer loyalty while earning additional revenue, and customers can enjoy their purchases with full peace of mind.