Nayms – the world’s first fully-regulated marketplace for on-chain insurance – announced that it closed its private token sale in a round led by UDHC, a leading DeFi investor headed up by the previous senior team at the Maker Foundation – which developed and deployed the MakerDAO protocol. And UDHC is aiming to bring DeFi to the mainstream by funding and guiding projects that are building on established DeFi protocols.
The company has now raised a total amount of $12 million and long-standing supporters such as UDHC, New Form, Tokentus and Keyrock participated in the latest funding round assisting the insurtech startup in its busiest year to come.
Nayms is known as the first in the space to hold both the full Digital Asset Business Act license and Innovative Insurer General Business license out of Bermuda, enabling their insurance partners to conduct regulated insurance business on-chain for the first time.
Launched in 2019, the company aims to bring the insurance marketplace into the twenty-first century by building the world’s leading digital insurance marketplace for transparent, traceable, and tradable digital assets risk.
What the funding will be used for: Nayms will use the new funding round to expand its global team and accelerate the development of its marketplace for crypto-native insurance. Nayms plans to grow to further support its product development, and marketing, and speed up global business expansion. The additional capital will allow Nayms to continue building an end-to-end marketplace to connect brokers, insureds, sponsors, and capital providers.
Nayms has been reaching the final stages of development before launching a number of insurance programs with the likes of Aon, Breach, and Evertas. And with the new capital, it’s possible to accelerate the engineering efforts for continuous upgrades post-launch as onboarding continues for the first users of the marketplace.
KEY QUOTES:
“As a fully-regulated marketplace for on-chain insurance, Nayms represents the next major step in risk transfer. Using blockchain technology, Nayms extends traditional risk markets using decentralized tools and features that take risk pricing and management to a new level. Bringing on-chain capability to traditional markets creating a new, efficient, and transparent financial future is the primary focus of UDHC, and we believe the team at Nayms has the potential to shape that future.”
- UDHC CEO Steven Becker
“It is very exciting for us to work more deeply with one of our very first investors and board members. The real experience that the UDHC team has continues to drive us forward as we navigate building and launching our proposition to the market. This round of funding has set us up for an extremely strong 2023, with all the right players behind us.”
- Dan Roberts, CEO of Nayms
