About Honcho
Honcho is a Transportation, Automotive & Logistics company based in Gateshead (United Kingdom) founded in 2016 by Gavin Sewell. Auto insurance is procured through an online reverse-auction marketplace. It operates in the Transportation, Automotive & Logistics and Financial Services sectors. Honcho has raised $7.94 million across 8 funding rounds from investors including Maven Capital Partners, Insurtech Gateway and Northern Powerhouse Investment Fund. The company has 10 employees. Its chief executive, as recorded, is Gavin Sewell. Its focus areas include FinTech, Internet First Insurance Platforms, Insurance Comparison Platforms and P&C. Its legal entity is HONCHO MARKETS LTD. Its competitors include Caura, Tempcover and Dayinsure; 1 of its 3 listed competitors has raised funding.
Company details
Honcho was founded in 2016 in Gateshead, United Kingdom, as an online marketplace in the auto insurance sector. Reverse auctions are facilitated, allowing insurers to bid and re-bid competitively for consumer business. Policies are offered at reduced rates, and individuals are enabled to purchase insurance directly via the platform. Operations focus on connecting drivers with insurers through this bidding mechanism.
- Headquarters Gateshead, United Kingdom
- Employees 10
- Founders Gavin Sewell
- SectorsTransportation, Automotive & LogisticsFinancial Services
- Email••••••••
- Website gethoncho.com
- Social LinkedIn X
- Legal Name Honcho Markets Ltd
- Date of Incorporation 28 Aug, 2014
- Jurisdiction LONDON
- Total Equity Funding$7.94M (USD)
in 8 rounds
- Latest Funding Round$1.51M (USD), Seed
Jul 2020
- InvestorsMaven Capital Partners
& 3 more
- Employee Count10
Funding Insights of Honcho
Honcho has successfully raised a total of $7.94M across 8 strategic funding rounds. The most recent funding activity was a Seed round of $1.51 million completed in July 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $7.94M
- Total Rounds 8
- Last Round Seed — $1.51M
- First Round $1.12M
(Jan 2018)
- Investors Count 4
All 8 funding rounds of Honcho with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2020 | $1.51M | Seed | – | – | – |
| Jul 2020 | $375,681 | Seed | – | Maven Capital Partners, InsurTech.vc | – |
| Apr 2020 | $1.48M | Seed | – | Insurtech Gateway | |
| Dec 2019 | $1.3M | Seed | – | – | – |
| Jun 2019 | $953,645 | Seed | – | Maven Capital Partners | – |
| Sep 2018 | $65,849 | Debt – Conventional | – | – | |
| Mar 2018 | $1.19M | Seed | – | Maven Capital Partners | – |
| Jan 2018 | $1.12M | Seed | – | – | – |
4 investors in total: 4 institutional.
Investors in Honcho
Honcho has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Maven Capital Partners, Insurtech Gateway and Northern Powerhouse Investment Fund.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Insurtech Gateway is focused on incubating and funding insurtech startups. | 2016 | insurtechgateway.com | St. Albans, United Kingdom | |
Multiple sectors are targeted for private equity investments. | 2005 | mavencp.com | Birmingham, United Kingdom | |
Private debt is extended to early-stage companies and SMEs. | npif.co.uk | Sheffield, United Kingdom | ||
| insurtech.vc |
Investor details for Honcho
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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People of Honcho
1 people are tracked at Honcho (1 in leadership); the tracked headcount is 10.
| Name | Role | Group |
|---|---|---|
Gavin Sewell | Founder & CEO | Leadership |
Complete people profiles for Honcho
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Timeline of Honcho
3 dated milestones of Honcho across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Honcho is founded.
- Funding First funding round of $1.1M.
- Funding Latest funding round, Seed, of $1.5M.
Competitors of Honcho
Honcho has 3 listed competitors in our database, 1 of them funded. They include Caura, Tempcover and Dayinsure.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| caura.com | 2016 | London, United Kingdom | $4.2M | 11 | Auto insurance and vehicle services are provided via mobile app. | |
| tempcover.com | 2006 | Fleet, United Kingdom | 53 | Short-term auto insurance is distributed via an online platform. | ||
| dayinsure.com | 2005 | Tarporley, United Kingdom | 39 | Vehicle insurance services are provided via an online platform. |
Detailed competitors of Honcho
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Top companies in Automotive Retail & Aftersales
2 companies that operate in the same segment as Honcho (Automotive Retail & Aftersales) in United Kingdom, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 161.3 M | USD 369.88 M | 625 | |
Vehicle parts and accessories are sold via an online platform. | 1897 | Walsall, West Midlands, United Kingdom | USD 20.37 M |
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Related news about Honcho
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Frequently Asked Questions about Honcho
Honcho was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Honcho is headquartered in Gateshead, United Kingdom. It is registered at Gateshead, England, United Kingdom.
Gavin Sewell is the CEO of Honcho, as recorded in our data. They have also founded this company.
Honcho is a funded company, having raised a total of $7.94M across 8 funding rounds to date. The company's 1st funding round was a Seed of $1.12M, raised on Jan 2018.
Honcho has 10 employees.
Honcho was founded in 2016 in Gateshead, United Kingdom, as an online marketplace in the auto insurance sector. Reverse auctions are facilitated, allowing insurers to bid and re-bid competitively for consumer business. Policies are offered at reduced rates, and individuals are enabled to purchase insurance directly via the platform. Operations focus on connecting drivers with insurers through this bidding mechanism.
Honcho has 4 investors. Key investors include Maven Capital Partners, Insurtech Gateway, Northern Powerhouse Investment Fund, and InsurTech.vc.
Honcho operates through Honcho Markets Ltd.