Hughub Limited (08813657): administration
- Status
- Administration ended
- Administration began
- 2024-04-03
- Administrators' firm
- ReSolve
- Incorporated
- 2013-12-13
- Location
- London
- Industry
- 66220 Activities of insurance agents and brokers
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- COVID-19
- Rising costs / inflation
- Cash flow / liquidity pressure
- Over-expansion / investment not recovered
From the administrators' statement
Background (based on information provided by the Company’s directors)
HugHub Limited (““HugHub’” or the “Company”) was incorporated on 13 December 2013. The Company was initially funded by Mr John Shaw, its founder, with further funding provided by Andrew Holley (a current director of the Company) and several other personal contacts of Mr Holley in 2015. Mr Holley, as COO, proceeded to recruit Jonathan Davey as CEO and Slava Solovei as CTO.
The Company operated as a software solutions provider to insurers and brokers operating across two main platforms namely, ‘HUG HUB’ (a cloud-based platform allowing insurance retailers to enable their customers to purchase a wide range of insurance products) and ‘Extranet HUB’ (an aggregator platform which was fully launched in November 2023).
Administrators' statement of proposals (2024-04-21) · Companies House register