London insurtech startup closes £1.5m pre-seed funding round

A London insurtech startup has announced that it has closed a funding round of £1.5m.

Nayms will use the funding from the pre-seed round to work on its capital market integrations ahead of a Series A funding round planned for the first quarter of next year.

The round was led by XBTO along with investors from capital markets, insurance and crypto such as Coinbase Ventures, Maven11 and the founders of Synthetix and Insurtech Gateway, the co-founder of the project with Dan Roberts, the CEO.

The insurtech startup will deploy this funding to launch larger pilot programs in preparation for a full launch slated for later this year.

Greg Carson, of lead investor XBTO, commented: “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.”

Theodore Georgas, CTO of Nayms, said: “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.”