Nayms, the world’s first fully-regulated marketplace for on-chain insurance, has announced the closure of its private token sale in a round led by UDHC, a leading DeFi investor headed by the previous senior team at the Maker Foundation. The round saw Nayms raise a total of $12 million, with long-standing supporters such as New Form, Tokentus, and Keyrock participating.
Nayms said that UDHC’s funding and guidance will help it to bring DeFi to the mainstream and to expand its global team and accelerate the development of their marketplace for crypto-native insurance.
Nayms plans to grow to further support its product development, 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 told AlexaBlockchain.
Nayms represents the next major step in risk transfer, using blockchain technology to extend traditional risk markets using decentralized tools and features that take risk pricing and management to a new level.
UDHC CEO Steven Becker, said: “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.”
The startup is reaching the final stages of development before launching a number of insurance programs with the likes of Aon, Breach, and Evertas.
Nayms was the first in the space to hold both the full Digital Asset Business Act license and Innovative Insurer General Business license out of Bermuda, allowing their insurance partners to conduct regulated insurance business on-chain for the first time.
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.
“This round of funding has set us up for an extremely strong 2023, with all the right players behind us,” Nayms CEO, Dan Roberts, said.
Read Also: Recovery Crypto launches a decentralised solution with new insurance platform