# Walnut Insurance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/walnut-insurance

- Industry: Insurance
- Headquarters: Toronto, Canada
- Website: www.gowalnut.com/
- Total disclosed funding: $4M
- Latest round: Seed (Dec 14, 2022)
- Investors on record: 5

## About

Based in Toronto, Canada, and founded in 2020 by co-founder and CEO Derek Szeto, Walnut Insurance Inc., a.k.a. Walnut Insurance is an insur-tech firm that develops a technology infrastructure to enhance embedded insurance for retailers, financial services, and consumer platforms. In December 2022, Walnut Insurance Inc. raised USD 4 million in seed funding co-led by ATB Financial and NAVentures, with participation from Highline BETA, N49P Inc., and Harvest Venture Partners. The company provides core infrastructure and access to a wide range of insurance products that can be embedded into or alongside consumer experiences, such as embedded payment and lending. Walnut offers term life insurance available in 10-year terms and 20-year terms as well as digital protection to protect identity, passwords, and financial assets by partnering with different insurance brands. The firm plans to use its proceeds from December 2022 funding to expand its partnerships across North America and deliver custom-embedded insurance programs. In August 2024, Walnut Insurance Inc. raised USD 4.6 million in venture funding led by NAventures, with participation from Diagram Ventures, Highline BETA, Portage Ventures, and TELUS Ventures.

## Funding rounds

- Seed, Dec 14, 2022, $4M — ATB Financial, Harvest Venture Partners, Highline BETA, N49P, NAVentures

## Investors

- ATB Financial — Seed
- Harvest Venture Partners (https://capitalatlas.ai/funds/harvest-venture-partners) — Seed
- Highline BETA (https://capitalatlas.ai/funds/highline-beta) — Seed
- N49P (https://capitalatlas.ai/funds/n49p) — Seed
- NAVentures (https://capitalatlas.ai/funds/naventures) — Seed