Overview

AKKO offers protection plans for personal electronic devices like laptops, tablets, and smartphones. Their plans cover theft, damage, and loss, allowing customers to select from various coverage levels. When a claim is made, AKKO provides quick cash replacements through PayPal, Zelle, or Check, or offers refurbished devices in good condition. The company operates on a subscription model, charging monthly or annual fees for its services. AKKO stands out from competitors by offering higher coverage limits and faster claim processing than typical renters' or homeowners' insurance policies. The goal of AKKO is to provide affordable and reliable insurance solutions for consumers to protect their valuable gadgets.

Simplify's Take

What believers are saying

• Growing demand for bundled insurance services boosts AKKO's market potential.
• AKKO's digital-first platform aligns with consumer preference for online solutions.
• Rising sales of 5G devices expand the market for AKKO's protection plans.

What critics are saying

• Increased competition from new entrants like Lemonade challenges AKKO's market position.
• Economic downturns may reduce consumer spending on device protection plans.
• Regulatory scrutiny could impact AKKO's insurance practices and pricing transparency.

What makes AKKO unique

• AKKO offers higher coverage limits than traditional insurance policies.
• AKKO provides instant cash replacements via PayPal, Zelle, or Check.
• AKKO's fast claim processing sets it apart from competitors.

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Funding

Total Funding

$14.4M

Below

Industry Average

Funded Over

2 Rounds

$12,000,000

Series A

Jun 2022

Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.

Series A Funding Comparison

Below Average

Industry standards

Ind Avg. $15M

$3.7M

$5M

$8.2M

$12M

$15M

$100M

View all funding stages