Nydig, a NYC-based provider of technology and investment solutions for Bitcoin, raised $100m in funding.
Backers included Starr Insurance, Liberty Mutual Insurance, and other P&C insurers, which joined existing life insurance and annuity-focused strategic partners New York Life and MassMutual.
Led by Robert Gutmann, co-founder and CEO, and Ross Stevens, Executive Chairman, Nydig provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and HNW individuals.
The company also announced that Mike Sapnar, CEO of TransRe, one of the world’s largest reinsurers, would be joining as Global Head of Insurance Solutions. While overseeing all of NYDIG’s insurance activities, Sapnar will focus on accelerating bitcoin-driven innovation in the global property and casualty (P&C) industry. He is joined by Matt Carey, U.S. Head of Insurance Solutions, who will be focused on bitcoin-powered solutions for U.S.-based life insurance and annuity providers. Prior to joining Nydig, Carey was co-founder and CEO of Blueprint Income, the largest online annuity marketplace in the U.S., recently acquired by MassMutual from Stone Ridge.