Nayms secures £1.5m in seed funding led by XBTO
XBTO led the seed round to support pilot programmes and regulatory preparations for Nayms.
Nayms operates an insurance marketplace for digital assets built on blockchain infrastructure. The company aligns capital providers, underwriters, brokers and insureds through its protocol.
Insurtech startup Nayms has secured £1.5m in a seed funding round led by XBTO. The raise included participation from Coinbase Ventures, Maven11, Insurtech Gateway, and the founders of Synthetix.
The capital will support the launch of larger pilot programmes as the company prepares for a full regulatory licence from the Bermuda Monetary Authority and a subsequent Series A planned for early next year. Nayms currently provides smart contract solutions to address the significant protection gap in the digital asset sector.
From the founder
"This pilot represents a small but significant milestone for Nayms as we move into 2021 with accelerating traction. It is our belief that the problem of scaling insurance protection for the digital asset space will be solved through a collaboration between regulated underwriters/brokers and capital markets. Nayms is building the infrastructure to facilitate this collaboration."
Theodore Georgas
CTO at Nayms
Investor perspective
"We are pleased to invest in the Nayms project alongside some of the top insurtech investors. We see insurance as an important spoke of the cryptofinance evolution."
Greg Carson
XBTO
Use of funds
- 01Continue product development
