Soter Insure, a provider of specialized insurance products for the digital asset economy, has announced the first close of its Series B funding round. Galaxy Digital led the round, with new participation from Coinbase Ventures and Franklin Templeton and follow-on investment from Brevan Howard Digital.
Final close of the Series B will bring total funding to date to $23.5 million, along with over 500 BTC and 2,000 ETH. Soter Insure is headquartered in Abu Dhabi and operates out of Bermuda, with offices in London, New York, and Dubai. The company offers digital asset insurance products including Directors & Officers, Professional Indemnity, Crime, Specie, Slashing, and Smart Contract Failure coverage, denominated in both fiat and native digital assets.
The new funding will support expansion of Soter Insure’s underwriting and technology capabilities and scale operations across key markets.
KEY QUOTES:
“Our mission at Soter is to set a new standard for risk management in the digital asset space. Reaching the first close of our Series B, with Galaxy leading again and new partners like Coinbase Ventures and Franklin Templeton joining alongside the continued support of Brevan Howard Digital, is a powerful validation of the platform we are building and the network effect of our strategic capital stack.”
Henson Orser, Founder and CEO, Soter Insure
“Insurance remains a key gap to institutional adoption of digital assets, and Soter has built a platform that closes it. We’re proud to lead this round again, and our continued investment reflects the strength of the team and the growing importance of specialized risk solutions for this asset class.”
Chris Ferraro, President and CIO, Galaxy
