Advance

Banking and payment infrastructure for insurance intermediaries

Insurtech Infrastructure Startup Seed

Overview

Advance is an insurtech infrastructure platform providing bank-supported payment and account management services for managing general agents (MGAs), wholesalers, and high-volume insurance agencies. The platform handles the collection, holding, and distribution of premium funds while enabling compliance and fiduciary oversight for insurance intermediaries.

The platform is delivered as a SaaS solution with API integrations designed to connect with existing insurance back-office systems. Core capabilities include automated premium reconciliation via AI, white-labeled banking services (ACH, wire, check, bill pay), and a yield management feature that enables intermediaries to earn interest on premium trust account balances while maintaining regulatory compliance. The company was formerly known as Flexx before rebranding to Advance.

Advance closed a USD 8.55M seed round in February 2026, led by NVP Capital with participation from Crystal Venture Partners, Vesey Ventures, Harel Insurance Group (also a strategic partner), Mensch Capital, and angel investor Assaf Wand. The platform serves MGAs and wholesalers managing significant premium volumes, with Pathpoint Insurance among its publicly referenced customers.

Products & Services

Addie AI

AI-powered transaction management and reconciliation system that automates matching of carrier statements, premiums, and commissions. Provides real-time account summaries and reduces manual reconciliation workload.

Key Features

Automated matching of carrier statements and premium flows
Real-time account summaries
AI-driven transaction categorization and exception handling

Target Users: MGAs, wholesalers, high-volume agencies

Yield Management

Enables insurance intermediaries to earn up to 3.0% APY on premium trust account balances through a compliant, fiduciary-controlled yield mechanism. Transforms non-yielding trust account deposits into revenue-generating assets.

Key Features

Up to 3.0% APY on premium trust funds
Full fiduciary and compliance controls maintained
Real-time monitoring and reporting of yield activity

Target Users: MGAs, wholesalers

Banking Services

White-labeled payment infrastructure including ACH transfers, wire transfers, bill pay, and check capabilities tailored to insurance intermediary workflows.

Key Features

ACH and wire transfer capabilities
White-labeled bill pay and check services
Insurance-native payment workflows

Target Users: MGAs, wholesalers, high-volume agencies

Back-Office Services

White-labeled bookkeeping and back-office services delivered through insurance-native partner integrations, enabling full back-office modernization for intermediaries.

Key Features

White-labeled bookkeeping services
Insurance-native partner integrations
Back-office workflow support

Target Users: MGAs, agencies

At a Glance

Headquarters: New York, NY, USA
Employees: 11-50
Funding: Seed

Category & Focus

Category: Insurtech Infrastructure
Subcategories: Premium Payment Infrastructure Banking-as-a-Service Back-Office Automation
Insurance Verticals: Specialty/E&S P&C Commercial
Target Customers: MGAs/MGUs, Brokers, Agents/Agencies