Yas MicroInsurance raised $4.5 M Pre-series A funding from multiple investors
Yas MicroInsurance, an insurtech company, has secured $4.5 million in a pre-series A investment round from investors JKL Capital, Noria Capital, and Zemu VC. 500 Global also took part in the fundraiser.
Yas provides NFT investments and blockchain-enabled insurance solutions that cover mishaps. The company claimed that adopting blockchain technology for its services speeds up procedures like applying and claiming.
The Hong Kong-based company will utilize the additional funding to increase the range of insurance products it provides to the Web3 sector. According to the report, just US $6 billion of the US $1 trillion in Web3 assets are now covered, indicating that the industry is underserved.
Yas is also submitting an application for a digital asset insurance license in the area, with a focus on the United Arab Emirates, drawing on Noria Capital’s knowledge of Middle Eastern markets.
Venture capital company 500 Global, which manages more than $2.7 billion in assets, makes early investments in founders of rapidly expanding technological firms. We concentrate on industries and sectors where money, creativity, and technology can create long-term value and stimulate the economy.
