Hokan Group, which operates a SaaS enterprise for insurance coverage businesses, introduced on the twenty fourth that it has raised a complete of ¥1 billion by means of debt financing, combining loans and bond issuance. The taking part monetary establishments embrace Aozora Company Funding, Shizuoka Financial institution, Shoko Chukin Financial institution, Nagoya Financial institution, Flex Capital (Fivot), and Fukuoka Financial institution. This brings the whole exterior funding to ¥3.2 billion. This quantity excludes refinancing and the setting of credit score strains, and doesn’t embrace the funds raised earlier than Frich joined the group.
The group is dedicated to “updating and upgrading the complete insurance coverage business” and operates as a pure holding firm with three subsidiaries: the insurance coverage company SaaS “hokan,” insurance-focused consulting agency CIEN, and Frich, which provides a P2P compensation mannequin. The group is constructing a cloud and AI-based insurance coverage distribution platform that includes regulatory compliance, aiming to boost operational effectivity and person expertise for businesses, insurance coverage firms, and policyholders alike.
The platform boasts options equivalent to workflow building compliant with the Insurance coverage Enterprise Act, centralized administration of contracts and buyer knowledge, AI-driven operational assist, and a safe cloud infrastructure. This uniquely gives businesses with new progress alternatives, strengthens governance for insurance coverage firms, and provides policyholders a safe and handy subscription expertise.
The funds raised shall be strategically invested in increasing the shopper base, strengthening the shopper success framework, enhancing product high quality with built-in regulatory compliance, and growing new enterprise areas equivalent to municipal collaboration, mutual support sectors, and BPO/BPaaS. Moreover, the corporate goals to optimize capital prices in preparation for the following fairness spherical.
The corporate beforehand raised roughly ¥1.5 billion in a Sequence B spherical in October 2023, and this debt financing marks the primary since then.
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