Nayms
6 known investors
Nayms, now OnRe, runs a regulated on-chain insurance and reinsurance marketplace built on Ethereum smart contracts.
Also known as OnRe
Investors · 6
Also in the syndicate · 2
Funding
SEC filings, press & company announcementsSource: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Nayms operates a regulated marketplace for on-chain insurance in which insurance and reinsurance policies are created, underwritten, tokenized, traded and settled using Ethereum smart contracts. Within the application, a company or segregated account is represented by an "Entity" that can issue multiple policies and mint internal Participation Tokens (P-Tokens); capital providers buy these tokens through their own business entities to fund the underlying portfolio, and the issuing account distributes profits to token holders. The structure is intended to function similarly to Lloyd's-style syndicates, with each partner company holding its own cell or segregated account and associated token.
The company's stated purpose is to connect regulated brokers and underwriters with digital-asset capital providers who share in the premium and liability of covering digital asset risk. Its initial focus is blockchain-related exposures such as cryptocurrency exchanges, custodians and DeFi smart contracts, with plans to offer directors and officers liability cover to crypto firms; coverage is not restricted to blockchain-based policies. In May 2025 the company rebranded to OnRe, repositioning as an on-chain reinsurance business that connects stable digital assets to the global reinsurance market via a structured yield product.
Founding story
Founded in 2019 (incubator Insurtech Gateway dates its involvement from the company's inception in 2018), led by CEO and co-founder Dan Roberts, a serial entrepreneur with startup experience across FMCG, digital out-of-home, smart cities and healthcare, and CTO Theodore Georgas, a software engineer and product manager with 20 years of experience including roles serving Deutsche Bank, Merrill Lynch and Lehman Brothers.
Business model
Nayms provides the marketplace infrastructure connecting brokers, insureds, sponsors and capital providers, with risk capital raised through tokenized participation in segregated accounts (cells) and returns paid out as profit distributions to token holders. Under the OnRe brand the model is expressed as a structured product that channels digital-asset collateral into reinsurance risk in exchange for real-world yield.
Revenue arises from the marketplace connecting insurance risk with tokenized capital, where capital providers share in premium and liability and receive profit distributions on their participation tokens.
Traction
As of April 2023 the company was in the final stages of development ahead of launching insurance programs with Aon, Breach and Evertas, with onboarding underway for its first marketplace users. Total capital raised was reported at $12m at that point.
Latest developments
In May 2025 the company rebranded to OnRe, launching a structured yield product combining traditional insurance markets with DeFi infrastructure, backed by Ethena, Solana and RockawayX. In May 2026 OnRe announced a $5m Series A co-led by Forward Industries (Nasdaq: FWDI) and RockawayX, alongside plans for up to $25m of additional capital deployment.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
Positioned as a fully regulated marketplace for on-chain insurance and, after the OnRe rebrand, as an on-chain reinsurance company addressing what it describes as a $750bn global reinsurance market constrained by legacy systems, manual processes and offline transactions, and connecting roughly $225bn of stable digital assets to it.
Nayms states it was the first in its space to hold both a full Digital Asset Business Act licence and an Innovative Insurer General Business licence in Bermuda, allowing its insurance partners to conduct regulated insurance business on chain.
Technology
The platform is built on Ethereum smart contracts that handle policy creation, underwriting, tokenization, trading and settlement on chain. Entities represent companies or segregated accounts, and Participation Tokens (P-Tokens) represent funding stakes in a given portfolio. The company publishes a public repository, contract source code, a NAYM coin source repository, a whitepaper and a token paper.
Go-to-market
The company works with established insurance industry participants, preparing to launch insurance programs with partners including Aon, Breach and Evertas (a Lloyd's of London coverholder), each operating through its own Nayms cell or segregated account, while onboarding the first users of the marketplace.
Regulated insurance brokers and underwriters, insureds and sponsors seeking cover for digital asset risk, and digital-asset capital providers and investors looking for exposure to insurance and reinsurance returns.
Geography
Bermuda-licensed with UK operations; press coverage places the company in Bermuda and St Albans, United Kingdom, with funding intended to support global business expansion. The April 2023 funding announcement was issued from London.
History
Incubated by Insurtech Gateway from inception in 2018, the company took part in a £1.5m seed round in January 2021 and secured a further $6m for its $NAYM token in June 2021. In April 2023 it closed a private token sale led by UDHC at an $80m valuation, bringing total funding raised to $12m. In May 2025 the business restructured and relaunched as OnRe, backed by Ethena, Solana and RockawayX, and in May 2026 announced a $5m Series A co-led by Forward Industries and RockawayX.
Compiled by commissioned research from 7 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 6
launches, deals, and filingsThe company restructured, rebuilt and relaunched as OnRe, an on-chain reinsurance business backed by Ethena, Solana and RockawayX, introducing a structured yield product bridging traditional insurance markets and DeFi infrastructure.
OnRe launched a structured product designed to give investors access to reinsurance-based real-world yield using digital assets as insurance collateral.
Nayms announced the close of a private token sale led by UDHC, with participation from New Form, Tokentus and Keyrock, at an $80m valuation. The amount raised was not disclosed; one report estimated it at around $3.5m. The round brought total funding to $12m and was earmarked for team expansion, product development, marketing and global expansion.
Nayms reported it was reaching the final stages of development before launching insurance programs with Aon, Breach and Evertas, each with its own cell or segregated account and token.
Nayms states it was the first in the space to hold both the full Digital Asset Business Act licence and the Innovative Insurer General Business licence out of Bermuda, enabling its insurance partners to conduct regulated insurance business on chain.
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 7
primary sources listed
- What is Nayms?docs.nayms.com · web
7 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Nayms do?
- Nayms, now OnRe, runs a regulated on-chain insurance and reinsurance marketplace built on Ethereum smart contracts.
- Who are Nayms's investors?
- Nayms's investors include Black Dragon, Cogitent Ventures, Salica Investments, Woodstock Fund.