Walnut Insurance Raises $4M in Seed Funding

Walnut Insurance

Walnut Insurance, a Toronto, Canada-based technology company that provides infrastructure for embedded insurance, raised $4M in Seed funding.

The round was led by ATB Financial and NAventures, with participation from Harvest Venture Partners, Highline Beta, and N49P.

The company intends to use the funds to focus on further expanding their strategic partnerships across North America, delivering custom embedded insurance programs that enable brands to build deeper relationships with their customers.

Led by CEO Derek Szeto, Walnut Insurances is a insurtech that has built technology infrastructure to power embedded insurance for retailers, financial services, and consumer platforms. The platform makes insurance convenient, creating accessibility for underserved audiences across life, home, renters, auto, and embedded product lines. Walnut provides the core infrastructure and access to a broad set of insurance products that can be embedded into or alongside consumer experiences, much like embedded payment and lending. With their API-driven distribution approach, Walnut has partnered with Neo Financial, one of the largest fintechs in Canada, to help the company tap into the over $160 billion dollar Canadian insurance market.