The tokenized reinsurance RWA platform Re has completed a new round of financing of $7 million, led by Electric Capital

According to CoinDesk, the tokenized reinsurance RWA platform Re has completed a new round of financing of $7 million, led by Electric Capital.

It is reported that the project had previously completed a $14 million seed round financing at the end of 2022, and Re aims to support $200 million in premiums by the end of this year.

According to the Web3 asset data platform RootData, Re is a blockchain-driven reinsurance company that allows qualified investors to back real-world insurance policies and companies. It has established a decentralized reinsurance market on Avalanche's C-Chain and Subnet, which is a decentralized global insurance trading layer that addresses any type of insurance risk in a transparent manner to regulators, partners, and investors.