“Can a vertical fintech for insurance intermediaries win by turning idle premium trust balances into a yield-plus-reconciliation product that incumbents' banks can't offer?”
Founded by Omer Rimoch (ex-PayEm co-founder/CTO) and Gal Dreiman (ex-Microsoft engineer) to attack a specific vertical pain point: premium trust accounts at MGAs, retail agencies and wholesale brokers that earn no yield and require spreadsheet-driven reconciliation. Rather than build horizontal SMB banking, Advance went narrow — insurance-only — pairing a sponsor-bank deposit product (OMB Bank) with workflow software for premium collection, segregation, reconciliation and carrier remittance. The AI layer (Addie) is the current wedge beyond yield.
Advance discloses OMB Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Advance does not disclose a bank charter of its own; its banking services are provided through OMB Bank.
Advance moves money over ACH and Wire.
Advance uses Persona for KYC and identity verification.
The Embedded Finance Index 2026 maps 4 layers in Advance's stack: Money movement (ACH and Wire); KYC (Persona); Sponsor bank (OMB Bank); Treasury (OMB Bank and OMB Bank (up to 3% APY on eligible premium trust balances)).
Advance was founded by Omer Rimoch and Gal Dreiman.
Advance has raised $8.55M (seed, disclosed) in total (latest round: Seed, 2026).
Get a read on where your own stack stands against Advance and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.