Nayms, which empowers cryptocurrency investors to reinsure crypto-risk, has reportedly netted £1.5m in seed equity.
XBTO served as the lead investor, with participation also coming from Coinbase Ventures, Maven11, InsurTech Gateway and the founders of Synthetix, according to a report from Business Cloud.
Plans are to fully launch the platform in 2021, following the graduation from the Bermuda Monetary Sandbox with a full license, it said. With this fresh capital, Nayms will launch larger pilot programs.
Nayms is looking to raise a Series A round in Q1 2021, it said.
The InsurTech enables cryptocurrency investors to reinsure crypto-risk. Its traceable smart contract is built on a trustless system, meaning insurance brokers can put a contract between market participants in unlimited areas, it claims.
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