Nayms, a fully regulated marketplace for on-chain insurance, has closed it’s private token sale in a round led by DeFi investor UDHC.
Nayms has now raised a total of $12m. Long-standing supporters such as UDHC, New Form, Tokentus and Keyrock participated in the funding round. The raise also sees Nayms reach a valuation of $80m.
Founded in 2019, Nayms’ 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.
Through its work so far with the industry, Nayms said it is paving the way in providing a new digital asset risk market that allows regulated brokers and underwriter to find digital asset capital providers to share in the premium and liability entailed in covering digital asset risk.
Nayms said it will use the new funds to expand its global team and accelerate the development of its marketplace for crypto-native insurance.
The company also plans to grow to further support its product development, marketing and speed up global business expansion.
The startup added that it is reaching final stages of development before launching a number of insurance programs with the likes of Aon, Breach and Evertas. Thanks to 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.
Steven Becker, UDHC CEO, said, “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.”
Earlier this year, Coincover, a Cardiff-based digital asset protection provider, scored $30m in a funding round headed by Foundation Capital.
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