InsurTech broker Kinsu has used Twitter to announce that it is shutting down and will stop serving its clients on 30 April.
Kinsu sold phone, laptop, bike and contents insurance targeted at millennials.
In a statement on its website, Kinsu wrote: “After an awesome year of fundraising, tech development and community building we are very sad to announce that we are closing the Kinsu app.
“Our insurance is no longer available to purchase and our coverage for current customers will end at midnight on 30th April 2019 (such a shame that the magic always ends at midnight).”
Following its decision to close the business sent out information to its members, focusing on coverage and data deletion. It recommended that individuals delete the app from their devices following its discontinuation.
It was a certified B-Corp, which means the business confirmed to the “highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose” as stated by the B Corp Lab.