UK insurtech Hiro raises £1.5m through crowdfunding

Hiro, a UK-based insurtech start-up, has raised over £1.5 million through its equity crowdfunding campaign on Seedrs, attracting more than 300 investors within the first 24 hours.

The funding round originally targeted to raise £1.2 million, which the start-up claims was achieved with just 14 minutes of the campaign launch.

As an insurance challenger brand, Hiro offers personalised, flexible home insurance that harnesses smart technology to actively prevent damage to homes and safeguard property, such as smart cameras, smoke sensors and leak detectors.

The company was founded by Krystian Zajac who previously co-founded insurtech Neos, which was backed by Munich Re and subsequently acquired by UK insurer Aviva.

Hiro plans to launch to customers in early 2021.

Zajac, Hiro’s founder and CEO, said: “We raised £1300 a second. It’s mind-blowing. It reaffirms our belief that people are crying out for a new kind of insurance designed for today’s homes and how we live in them.”