Locket locks up £1m in crowdfund

Locket, the prevention-first insurance provider has opened its crowdfund to the public this week, and already secured £1m against a target of £750k.

The insurance provider started accepting pre-registration for the crowdfunding in mid-November but had not yet revealed its target.

This round gives the crowdfunding community a chance to own a piece of the $7trn global insurance market, from as little as £15.

Locket claims to be revolutionising home insurance through a model that helps policyholders protect their homes through smart technology, rewarding consumers with a discount if they use such technology. The company states it is not just there to pay claims, but to prevent incidents happening in the first place.

The company said it 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.

Krystian Zajac, co-founder and CEO of Locket, said, “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.”

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