Locket, the prevention-first insurance provider has opened its crowdfund to the public this week, and already secured £1m against a target of £750k.
This round gives the crowdfunding community a chance to own a piece of the $7 trillion global insurance market, from as little as £15.
Locket is protection-first insurance that rewards you with a discount if you use smart tech to make your home more secure. Locket doesn’t just pay out on claims but also empowers its members to proactively prevent the trifecta of perils: fires, thefts and water leaks.
“The private phase of the raise has been amazing, already reaching 129% of our target. We’re hoping we can continue this momentum into the public phase of our raise,” says Krystian Zajac, Cofounder and CEO of Locket. “The money we’ve raised shows that people are keen to see insurance that does more than just reacting when something bad happens. Our members want to be empowered to proactively protect their homes by using smart tech – and we reward them for doing so with a fairer price.”
Locket is planning on using the funds from this raise to fuel its next phase of growth. The money will enable the insurtech to continue developing innovative products, and develop more intellectual property that will pave the way towards bringing Locket’s insurance to the masses.
“We’ll continue to innovate and move fast. We’re developing products and additions to our service that we believe will help to truly protect our members and the items they hold dear,” continues Zajac. “We understand that certain items can be insured, but they can never really be replaced by a payout alone. It’s time to change the odds”.