Soter Insure secures Series B funding
Soter Insure, a provider of specialized insurance products tailored to the digital asset economy, announced the first close of its Series B funding round, led by Galaxy Digital, who also led the Series A, with new participation from Coinbase Ventures and Franklin Templeton and follow-on investment from Brevan Howard Digital and other existing backers. A second close is expected to follow in the coming weeks as Soter finalizes participation from additional strategic investors. Final close of the Series B will bring total funding to date of $23.5 million and over 500 BTC and 2000 ETH.
Headquartered in Abu Dhabi and operating out of Bermuda, with offices in London, New York and Dubai, Soter Insure was incubated by Further Ventures and WebN Group. The company offers specialized digital asset insurance products for financial institutions, including, Directors & Officers, Professional Indemnity, Crime, Specie, Slashing and Smart Contract Failure coverage, uniquely denominated in both fiat and native digital assets.
The new funding will support the continued expansion of Soter Insure, deepening its underwriting and technology capabilities and scaling operations across key markets.
“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. Special thanks to Galaxy Digital for their vision and leadership in continuing to support us with the ability to provide solutions at institutional scale. With this capital we will accelerate our product roadmap, expand capacity, and extend our global footprint, and we look forward to welcoming further partners at our second close.” – Henson Orser, Founder and CEO of 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 of Galaxy.
