Fend targets business risks with event-based protection

Fend , previously known as Bayes, is building financial protection for businesses exposed to airspace closures, regulatory changes, geopolitical disruption and extreme weather.

Co-founded by Yosef Goldstein and Benny Attar, the startup has raised an undisclosed amount in pre-seed funding from Aliyah Ventures. Fend’s website also says it is backed by investors and advisors from organizations including Polymarket, 5c(c) Capital, Wintermute and Munich Re, without specifying their individual roles.

Fend says it works with businesses to identify events that could disrupt their operations and structure protection around them. It also targets brokers seeking options for risks traditional insurance does not cover.

Its approach centers on predefined events and measurable triggers. In recent LinkedIn posts, Goldstein described event contracts as a way for smaller businesses to access hedging tools typically available to larger companies with treasury teams and banking relationships.

Examples include a conflict escalating, a tariff taking effect or a storm making landfall. Goldstein highlighted the vulnerability of hotels, restaurant groups and tour operators whose revenue can be heavily affected by even a short disruption.