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Hokan Group, which operates a SaaS business for insurance agencies, announced on the 24th that it has raised a total of ¥1 billion through debt financing, combining loans and bond issuance. The participating financial institutions include Aozora Corporate Investment, Shizuoka Bank, Shoko Chukin Bank, Nagoya Bank, Flex Capital (Fivot), and Fukuoka Bank. This brings the total external funding to ¥3.2 billion. This amount excludes refinancing and the setting of credit lines, and does not include the funds raised before Frich joined the group. The group is committed to “updating and upgrading the entire insurance industry” and operates as a pure holding company with three subsidiaries: the insurance agency SaaS “hokan,” insurance-focused consulting firm CIEN, and Frich, which offers a P2P compensation model. The group is building a cloud and AI-based insurance distribution platform that incorporates regulatory compliance, aiming to enhance operational efficiency and user experience for agencies, insurance companies, and policyholders alike. The platform boasts features such as workflow construction compliant with the Insurance Business Act, centralized management of contracts and customer data, AI-driven operational support, and a secure cloud infrastructure. This uniquely provides agencies with new growth opportunities, strengthens governance for insurance companies, and offers policyholders a secure and convenient subscription experience. The funds raised will be strategically invested in expanding the customer base, strengthening the customer success framework, enhancing product quality with built-in regulatory compliance, and developing new business areas such as municipal collaboration, mutual aid sectors, and BPO/BPaaS. Additionally, the company aims to optimize capital costs in preparation for the next equity round. The company previously raised approximately ¥1.5 billion in a Series B round in October 2023, and this debt financing marks the first since then. via PR TIMES
