Durham fintech takes bite of Big Apple with place on 'major' US accelerator

A North East fintech has continued its international expansion by securing a place on a ‘major’ US growth accelerator programme.

Durham-based firm Honcho has been selected by New York group Insurtech NY to join its 2020 accelerator programme.

The announcement is the latest growth news for the firm, which secured multi-million pound funding earlier in the year to support its expansion into new markets.

Honcho CEO Gavin Sewell explained: “We’re incredibly excited to have won a place on the Insurtech NY Growth Accelerator, which comes as we are increasingly gaining international visibility, and serves to reflect the global potential of the Honcho platform.

“Insurtech NY have fantastic connections across the insurance industry in the US and we look forward to the access and insight the programme will bring to senior leaders at US insurers, re-insurers, VCs and advisors.

“We are proud to have been only one of two UK insurtechs to be selected to this prestigious programme [alongside Stockbridge-based firm GUARDHOG].”

Richard Chattock, CEO of Insurtech Gateway, commented: Congratulations Honcho and GUARDHOG. Great to see that both of the UK companies chosen to join Insurtech NY 2020 cohort are in the Gateway family.“

Niall Barton, chair of Insurtech UK, added: “We are delighted that Honcho, an insurtech champion of the north east has been successfully chosen to join the Insurtech NY 2020 Accelerator.

“We are confident they will provide a great example of the UK’s Insurtech talent, highlighting the dynamism and innovation of the UK as a global leader for insurance innovation.”