Forward Industries And RockawayX Co-Lead $5 Million Series A For OnRe On Solana

Forward Industries and RockawayX co-led a $5 million Series A round for OnRe, a reinsurance infrastructure startup built on the Solana blockchain, with the funding described as aimed at bringing traditional risk-transfer markets onto decentralized rails. Forward also said it plans to allocate up to $25 million into OnRe’s yield-bearing token on Solana, as the platform expands its Solana-based reinsurance pools. The deal was framed as using tokenization and smart contracts to manage underwriting and capital flows on-chain, with OnRe attempting to shift parts of the reinsurance market onto blockchain infrastructure. In market trading referenced alongside the announcement, Forward Industries’ Nasdaq-traded shares gained about 5.8% in Tuesday’s regular session, while Solana was last trading hands at $86.61, up about 2.7%.

“Forward Industries, RockawayX Co-Lead $5 Million OnRe Round for Solana-Based On-Chain Reinsurance Summary - Forward Industries and RockawayX said they co-led the $5 million Series A round for OnRe, a reinsurance infrastructure startup built on Solana (SOL)”

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The funding was described as being used to expand OnRe’s platform and attract more institutional participants to onchain reinsurance, which was characterized as a niche but emerging segment within decentralized finance. Forward said it “intends to deploy up to $25 million into ONyc,” OnRe’s yield-bearing RWA token on Solana, and the proceeds were said to scale OnRe’s underwriting programs and deepen integrations with DeFi protocols. Forward also described the move as a “natural extension” of its Solana treasury strategy, saying it is shifting from relying solely on staking yield to adding “high-quality, real-world cash flows that are both complementary and uncorrelated.” RockawayX was also cited for arguing that OnRe’s model can “generate the same revenue from $10 million in TVL as a $500 million money market fund.”

The sources place the effort against a large but complex reinsurance backdrop, with one report valuing the global reinsurance market at more than $600 billion and total reinsurance premiums closer to $2 trillion. OnRe was described as attempting to bring insurers’ risk offloading to third parties onto blockchain infrastructure using tokenization and smart contracts to manage underwriting and capital flows. The funding announcement also said OnRe is licensed in Bermuda under both the Insurance Act and the Digital Asset Business Act, allowing it to accept digital assets as collateral for traditional reinsurance contracts and to pass through returns from a diversified book of underwriting risk to on-chain investors. Forward and RockawayX’s investment was positioned as part of a broader push to experiment with insurance and reinsurance on blockchain networks, while the same coverage emphasized that adoption remains at an early stage.

“OnRe Finance raised $5M from Forward and RockawayX as Forward prepares up to $25M into ONyc, scaling Solana-based, tokenized reinsurance with DeFi integrations”

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