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Walnut Insurance

Walnut Insurance is a Toronto embedded-insurance platform. Derek Szeto and Adrien Niblock founded it in 2020 to let fintechs, retailers and consumer platforms offer insurance inside their own products, and it now sells term life and digital-protection cover through partner brands.

InsurtechTorontoFounded 2020gowalnut.com
$4M CADseed round announced December 2022, to power embedded insurance programs for fintechsBetaKit

The people

Derek SzetoCo-founder & CEO · 1 TechTO talk
AN
Adrien NiblockCo-founderprofile coming

What they build

Term lifeTerm life insurance sold direct and embedded into partner brands' own productsProduct page ↗
Walnut for BusinessThe embedded-insurance infrastructure partners use to offer cover inside their own customer journeysProduct page ↗

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Working at Walnut Insurance

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About

Derek Szeto founded RedFlagDeals.com, sold it to Yellow Pages in 2010, and ran the retail-hiring app Wirkn before starting Walnut with Adrien Niblock in 2020. The company builds the plumbing for embedded insurance: a partner brand puts a relevant policy in front of a customer at the moment it makes sense, and Walnut handles the underwriting relationships, compliance and servicing behind it. It raised $4 million CAD in seed funding in December 2022, has reported more than $7 million raised in total, and is SOC 2 Type II compliant. Szeto took the TechTO stage in February 2015, for Wirkn, on building momentum through events.

Backers

Raised a $4-million CAD seed round announced in December 2022; total funding has been reported at more than $7 million across pre-seed, seed and a later round. The composition of the later rounds is not consistently reported.

Some figures are founder-stated, not independently confirmed

Quick answers

What does Walnut Insurance do?

It provides embedded insurance: the technology and licensing that let a fintech, retailer or consumer platform offer insurance inside its own product, plus direct term-life and digital-protection cover.

Who founded Walnut Insurance?

Derek Szeto and Adrien Niblock, in 2020. Szeto had earlier founded RedFlagDeals.com, acquired by Yellow Pages in 2010, and led the retail-hiring app Wirkn.

How much has Walnut raised?

A $4-million CAD seed round was announced in December 2022. Total funding has been reported at over $7 million, though the later rounds are described inconsistently across sources.

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Maintained by TechTO · facts sourced and dated · last reviewed Aug 26, 2026