# Karn Saroya

> Karn Saroya is the co-founder and CEO of Re, a decentralized reinsurance protocol built on Avalanche that connects alternative capital to the nearly $1 trillion global reinsurance market. A Canadian-born, MIT-trained Fulbright scholar, he previously co-founded the YC-backed insurtech Cover and worked as a financial-services consultant at Oliver Wyman before deciding the insurance stack itself needed to be torn down and rebuilt on-chain.

- **Role:** Co-founder & CEO at Re
- **Organizations:** Re (re.xyz), Cover, Stylekick, Shopify, Oliver Wyman, Fairhaven Capital
- **From:** Vancouver, Canada
- **Nationality:** Canadian
- **Education:** Master of Finance, Fulbright Scholar, Massachusetts Institute of Technology (MIT Sloan), Bachelor of Commerce, Queen's University
- **Known for:** Fulbright Scholar at MIT, Y Combinator alum (Cover), Raised $14M seed for Re

## Career timeline

- **2011** — Venture capital practicum intern at Fairhaven Capital
- **2011-2013** — Consultant, Financial Services at Oliver Wyman
- **2013** — Co-founded Stylekick, a mobile fashion marketplace
- **2015** — Joined Shopify in a Product role after Stylekick
- **2016** — Co-founded Cover, a Y Combinator-backed insurtech
- **2022** — Founded Re, raised $14M seed for decentralized reinsurance protocol
- **2024** — Re debuts tokenized reinsurance fund on Avalanche with $15M Nexus Mutual commitment; raises additional $7M

## Achievements

- Fulbright Scholar at MIT
- Y Combinator alum (Cover)
- Raised $14M seed for Re
- Brought first tokenized reinsurance fund live on Avalanche
- Secured $15M commitment from Nexus Mutual
- Total funding raised across Re: $21M+

## Latest updates

- **2024-05** — Re debuts tokenized reinsurance fund on Avalanche, anchored by a $15M commitment from Nexus Mutual.
- **2024-05** — Closes additional $7M, bringing total funding to roughly $21M.

## Links

- Website: https://re.xyz
- LinkedIn: https://www.linkedin.com/in/saroya/
- Twitter/X: https://x.com/karnsaroya
- Instagram: https://www.instagram.com/ksaroya/

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Profile page: https://yespress.io/karn-saroya
Published by YesPress — https://yespress.io
Last updated: 2026-06-30