Advance, a FinTech platform focused on insurance payments and premium management, has raised $8.55m in seed funding as it looks to modernise how insurance intermediaries manage and move money.
The funding round was led by nvp Capital, with participation from Crystal Ventures, Vesey Ventures and Mensch Capital, according to FF News. Strategic angel investors also joined the raise, including Assaf Wand, the former CEO and founder of Hippo Insurance.
The new capital will be used to expand Advance’s product offering and support go-to-market growth, with a focus on MGAs, wholesalers and high-volume agencies facing rising premium volumes, increasing audit scrutiny and growing operational complexity.
nvp capital partner Vaughn Crowe said, “Advance understands that insurance money is different.” He added, “Most solutions treat the symptoms with point tools and workarounds. Advance goes deeper—solving the underlying infrastructure problem with a platform built to support our insurance intermediaries with fiduciary responsibilities, operational scale, and regulatory reality.”
The firm operates in the InsurTech and FinTech space, building financial infrastructure tailored to the specific needs of insurance intermediaries such as managing general agents (MGAs), wholesalers and scaled agencies.
These companies manage some of the most complex money flows in financial services, with premium dollars required to be collected, segregated, reconciled and remitted across multiple parties under strict regulatory and fiduciary obligations.
Advance’s platform provides bank-supported payments and account infrastructure designed for insurance use cases. By automating payment collection through to trust accounts, carrier remittance and producer commissions, Advance aims to eliminate manual reconciliation, reduce payment delays and improve transparency across premium flows.
A central feature of the platform is its ability to enable intermediaries to earn yield on idle premium balances, where permitted. Advance says this allows firms to turn a historically passive requirement into a financial advantage, while still meeting compliance and audit standards.
Advance founder and CEO Omer Rimoch said, “Advance is the GPS for insurance payments.” He added, “By combining purpose-built financial infrastructure with AI, we make sure every dollar is tracked, contextualized, and optimized in real time. When finance is fully automated, money doesn’t get lost — it generates value.”
Pathpoint Insurance CEO Alex Bargmann said, “Advance unlocked yield on premium funds we hold in trust that previously generated no return.” He added, “Its intuitive platform makes managing our premium trust accounts straightforward while replacing manual work with a structured process and increasing visibility into our funds flow.”
Crystal Ventures managing partner Jonathan Crystal said, “Insurance has some of the most complex money movement in financial services, yet it’s still supported by infrastructure that was never designed for how premium dollars actually flow.” He added, “Advance isn’t adding another layer of tooling—they’re fixing the underlying economics by giving insurance operators a better way to manage premium funds, reduce friction, and turn a required process into a source of value.”
The seed round follows Advance’s earlier pre-seed financing and includes backing from insurance-aligned investors.
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