Advance, a financial platform built for insurance, announced it raised $8.55 million in seed funding to modernize how insurance intermediaries manage and move money, aiming to reduce operational friction while keeping premium dollars controlled, compliant, and earning.
The round was led by nvp Capital, with participation from Crystal Ventures, Vesey Ventures, and Mensch Capital, alongside strategic angels including Assaf Wand, former CEO and founder of Hippo Insurance. The company said the seed round follows its pre-seed financing and includes participation from insurance-aligned strategic investors.
Advance is targeting insurance intermediaries, including managing general agents, wholesalers, and scaled agencies that handle complex premium money movement involving collection, segregation, reconciliation, and remittance across multiple parties, alongside compliance and audit requirements tied to fiduciary responsibilities. The company said many firms still rely on legacy banks, generic payment tools, and manual spreadsheet workflows that are not designed for the specifics of insurance funds flow.
Advance said its platform provides bank-supported payments and account infrastructure purpose-built for insurance, automating flows from payment collection to insurance intermediary trust accounts, carrier remittance, and producer commissions. The company said the platform is designed to help reduce manual reconciliation, shorten payment cycles, and support operational and compliance requirements associated with premium handling, while enabling intermediaries to earn yield on idle premium balances where applicable.
The company said the new capital will fund product expansion and go-to-market growth with MGAs, wholesalers, and high-volume agencies facing rising premium volume, increased audit scrutiny, and greater operational complexity. Advance is headquartered in New York.
KEY QUOTES
“Advance is the GPS for insurance payments. By combining purpose-built financial infrastructure with AI, we make sure every dollar is tracked, contextualized, and optimized in real time. When finance is fully automated, money doesn’t get lost — it generates value.
Omer Rimoch, Founder and CEO, Advance
“Advance unlocked yield on premium funds we hold in trust that previously generated no return. Its intuitive platform makes managing our premium trust accounts straightforward while replacing manual work with a structured process and increasing visibility into our funds flow.”
Alex Bargmann, CEO, Pathpoint Insurance
“Advance understands that insurance money is different. Most solutions treat the symptoms with point tools and workarounds. Advance goes deeper—solving the underlying infrastructure problem with a platform built to support our insurance intermediaries with fiduciary responsibilities, operational scale, and regulatory reality.”
Vaughn Crowe, Partner, NVP Capital
“Insurance has some of the most complex money movement in financial services, yet it’s still supported by infrastructure that was never designed for how premium dollars actually flow. Advance isn’t adding another layer of tooling—they’re fixing the underlying economics by giving insurance operators a better way to manage premium funds, reduce friction, and turn a required process into a source of value.”
Jonathan Crystal, Managing Partner, Crystal Ventures
