Oka raises $10 million

Oka, a provider of carbon credit insurance, has raised $10 million from Aquiline Capital Partners, firstminute capital, and others.

Proceeds will support Oka’s risk-based capital requirements and operational growth, as it underwrites through its Lloyd’s syndicate-in-a-box Oka Syndicate 1922. In the interest of Syndicate 1922, Oka has also partnered with three reinsurance providers and secured a capital commitment from a subsidiary of Greenlight Capital Re, which will participate as a capacity provider for Oka’s first three years of operation.

“In a difficult market for venture funding and the VCM alike, we’re delighted by the vote of confidence in Oka. The capital committed by our brilliant investors and capital partners puts us one step closer to realizing our ambitious vision of insuring every carbon credit. Coupled with our early customer traction, their invaluable support reinforces our thesis that insurance is the “missing piece” required to unlock transformational market scale.” – Oka CEO Chris Slater.