Nayms Raises $12 Million in Funding Round Led by UDHC for World’s First Regulated On-Chain Insurance Marketplace

Nayms, the pioneering insurtech startup that aims to revolutionize the insurance marketplace with its fully-regulated on-chain insurance platform, has successfully raised $12 million in a private token sale funding round. The round was led by UDHC, a prominent DeFi investor headed by the senior team from the Maker Foundation, and joined by long-standing supporters such as New Form, Tokentus, and Keyrock. This significant funding injection will enable Nayms to expand its team, accelerate product development, and drive global business expansion as it prepares to launch insurance programs with industry partners like Aon, Breach, and Evertas.

Bringing DeFi to the Mainstream

UDHC, known for its focus on bringing decentralized finance (DeFi) to the mainstream, has recognized the potential of Nayms to shape the future of risk transfer using blockchain technology. UDHC CEO Steven Becker commented, “As a fully-regulated marketplace for on-chain insurance, Nayms represents the next major step in risk transfer. 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.

Expanding the Marketplace for Crypto-Native Insurance

With the new funding, Nayms plans to further support its product development, marketing efforts, and global business expansion. The insurtech startup aims to build an end-to-end marketplace that connects brokers, insureds, sponsors, and capital providers, providing a transparent, traceable, and tradable digital asset risk market. Nayms has been at the forefront of regulatory compliance, being the first in the space to hold both the full Digital Asset Business Act license and Innovative Insurer General Business license in Bermuda, allowing for regulated insurance business on-chain.

Nearing the Launch of Insurance Programs

Nayms is also approaching the final stages of development before launching insurance programs with industry partners such as Aon, Breach, and Evertas. The additional capital from the funding round will allow Nayms to accelerate its engineering efforts for continuous upgrades post-launch and ensure smooth onboarding for the first users of the marketplace. The insurtech startup is poised for a strong year in 2023, backed by the support of its investors and partners.

CEO’s Vision for the Future

Dan Roberts, CEO of Nayms, expressed his excitement for the future, stating, “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.”

Nayms aims to revolutionize the insurance industry by providing a transparent and efficient platform for digital asset risk management. With the support of its investors, including UDHC, Nayms is well-positioned to continue driving innovation in the space and shaping the future of risk transfer.

TL;DR:

Nayms, the world’s first fully-regulated marketplace for on-chain insurance, has closed its private token sale with $12 million raised in a funding round led by UDHC, a leading DeFi investor. Nayms plans to use the funds to expand its global team and accelerate the development of its marketplace for crypto-native insurance. The startup is also nearing the launch of insurance programs with partners such as Aon, Breach, and Evertas. Nayms holds licenses under the Digital Asset Business Act and Innovative Insurer General Business license in Bermuda, allowing regulated insurance business on-chain for the first time.