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OnRe Finance Raises $5 Million to Expand Reinsurance Development on Solana

According to the companies, Forward Industries and RockawayX co-led a $5 million Series A for OnRe, backing the startup’s effort to build reinsurance infrastructure on the Solana blockchain.

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Fact Check
All key claims are directly confirmed by the official GlobeNewswire press release issued by Forward Industries on May 5, 2026: (1) OnRe Finance raised $5 million in a Series A; (2) Forward Industries and RockawayX co-led the round; (3) Forward plans to deploy up to $25 million into ONyc; (4) ONyc is integrated across major Solana DeFi venues as collateral. These facts are independently corroborated by crypto.news, PANews (which cites the GlobeNewswire release), and StockTitan. There are no conflicting reports. The minor residual uncertainty (0.03) reflects the absence of a direct on-chain or regulatory filing confirmation, but the convergence of an official press release with multiple independent news sources makes the claim highly credible.
Summary

Forward Industries and RockawayX backed and co-led a $5 million Series A round for OnRe, a startup developing reinsurance infrastructure on Solana. According to the companies, the funding supports OnRe’s effort to build blockchain-based reinsurance infrastructure. The new report confirms the financing and the involvement of the two lead investors but does not add material new operational or product details beyond the existing topic summary.

Terms & Concepts
  • Solana: A blockchain network designed for high throughput and low transaction costs, commonly used for decentralized finance applications.
  • DeFi: Short for decentralized finance, a set of blockchain-based financial applications that operate without traditional intermediaries.
  • ONyc: OnRe’s yield-bearing token on Solana, which the company says is integrated across major Solana DeFi venues and can be used as collateral.