Noyo Secures $12.5M Series A for Insurance Lifecycle API Platform

Noyo announced a $12.5 million Series A funding round in early October 2020 to build out its API platform that supports the complete insurance lifecycle. The company's APIs enable businesses and fintechs to embed insurance capabilities including quoting, enrollment, and ongoing policy management directly into their products and platforms. Noyo's infrastructure-layer approach mirrors the API-first strategies seen in banking and payments, extending embedded finance principles into the insurance vertical.

The funding will be used to expand the platform's capabilities and integrations with insurance carriers. The round was part of a wave of fintech infrastructure funding during October 2020 that saw 27 funding rounds in a single week. Noyo's approach represents the broadening of the embedded finance thesis beyond core banking products into adjacent financial services like insurance.