Forward Industries and RockawayX have co-led a $5 million Series A funding round for OnRe, a startup building reinsurance infrastructure on the Solana blockchain. Forward Industries, which holds more than 7.01 million SOL and is the largest corporate token holder, plans to commit up to $25 million into a Solana-based yield token issued through the platform. The capital will support OnRe’s development of automated, on-chain underwriting and capital allocation for the $600 billion reinsurance market.
OnRe aims to move risk transfer processes onto blockchain systems, using tokenized structures and smart contracts to attract institutional capital. The reinsurance industry sees total premiums near $2 trillion, and OnRe’s model could improve efficiency by replacing manual workflows. Forward Industries’ shares rose 5.8% on Tuesday before giving back gains after hours; SOL traded at $86.61, up 2.7% at last check.
