Toronto-based Walnut Insurance has built a cloud-native platform that embeds insurance products directly into the digital experiences of enterprise partners, financial institutions, insurers, and brokers. The system digitizes policy design and customer journeys, offers headless or co-branded API delivery, and can quote, bind, and enroll customers in real time—typically within 30-90 days instead of the years a traditional integration can take. Walnut’s model reduces insurers’ upfront marketing costs by shifting to partner-driven distribution and allows profit-sharing arrangements that improve unit economics. Partners benefit from higher average revenue per user, stronger customer relationships, and lower churn, while consumers receive timely, tailored coverage through streamlined, data-driven workflows. In today’s macroeconomic climate the company is emphasizing loan and debt-protection products such as creditor insurance to shield borrowers and lenders from income loss or default risk. The new capital will be used to expand Walnut’s engineering team, enhance its API infrastructure, and enter additional markets. No revenue, user, or profitability figures were disclosed in the article.

Total raised

$9M

Funding rounds

2

Latest round

Equity

Latest activity

Aug 2024