Shine partners with Hokodo

Shine, the French fintech startup built for freelancers and small businesses, is announcing a new feature: invoice insurance.

In early April, the startup conducted a study with more than 1,300 self-employed folks to better understand their challenges and needs, and almost one in two freelancers experienced late payments. As a result, Shine is partnering with invoice insurance provider Hokodo to offer users the option to buy invoice insurance through their Shine accounts.

Shine users will receive the full invoice amount if the startup manages to collect it from the customer, and if not, compensation of at least 90% is offered.

Founded in 2017, Shine has raised around $12 million and serves over 50,000 freelancers and entrepreneurs who use the service to send and receive money, create invoices, and stay on top of administrative tasks.

Bottom Line: This is Hokodo’s third partnership since the beginning of April.