Honcho is live in the UK

Honcho is live with its reverse auction marketplace for auto insurance. Established in 2016, the UK-based team of 10 has raised ~$2 million in funding to allow customers to create an online profile via its website or its mobile app that captures the details necessary to obtain a car insurance quote to later obtain bids from insurance partners and be redirected to a bidder’s site to complete the transaction.

Last, the company has partnered with Brightside Insurance, one of the UK’s largest insurance brokers, which enjoys a 3.7 star rating on Google. Get a feel for the flow below:

Bottom Line: Dollar Shave Club comes to mind (play here to see why).