Fintech start-up Huddle Money goes live next month after receiving $6 million in backing, led by Hollard Insurance MD Richard Enthoven.

The peer-to-peer financial services company, founded by Jason Wilby and Jonathan Buck, will initially offer general insurance products underwritten by Hollard, plus money management tools.

The Sydney-based business plans to later offer investment and loan products.

Mr Wilby told insuranceNEWS.com.au he is keeping details of the insurance model quiet until the launch.

He says Huddle Money’s central focus is on rewarding people for using its education tools.

“The more they learn, the more they earn,” he said.

He says the group decided to begin with insurance products because they are “low-engagement” and “low-comprehension”.

“It is an opportunity to engage customers and increase participation.”

Mr Enthoven told insuranceNEWS.com.au that Hollard, which is both underwriter and investor, is actively seeking entrepreneurial InsurTech partners “who can deliver a step-change in product and customer experience”.

“We’ve backed Huddle Money because we share their long-term vision for how technology and passionate people will reshape consumer financial services, and we wanted to play a role in bringing their vision to life,” he said.

Huddle Money’s target market is 25-35-year-olds “looking for financial services’ answer to Uber”, Mr Wilby says.