Humn.Ai Ltd (11032616): administration
- Status
- Administration ended
- Administration began
- 2023-12-11
- Administrators
- David Robert Baxendale, James Cameron, Adam Seres
- Administrators' firm
- PwC
- Incorporated
- 2017-10-26
- Location
- Leeds
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 26 October 2017. It operated as an insurance provider based in London and is an FCA regulated business. The Company was set up to develop a cloud based tech platform called RideShur. RideShur is a data driven online portal for commercial fleets, which was designed to price every trip for every driver in real-time, with an ultimate aim to to offer the insights needed to result in a lasting reduction in accident frequency, with the idea that this could lower premiums on fleet insurance policies.
The Company had 26 employees at the date of appointment. The Company's registered office was located in St. Albans, however its employees worked predominantly remotely from home.
The RideShur platform was officially launched in December 2021 and had been trialled by a number of fleet managers who had expressed interest in the platform. However, there was limited appetite from other third party users, and therefore revenue generation from the platform was limited and in the build up to appointment, the platform did not generate any material revenue for the Company.
Administrators' statement of proposals (2023-12-20) · Companies House register