Soter Insure, a provider of specialized insurance products tailored to the digital asset economy, has successfully closed its Series A funding round, led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and others.
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 Asset Loss, Directors & Officers (D&O), and Smart Contract Failure coverage, uniquely denominated in both fiat and native digital assets.
As the Web3 space continues to evolve, the lack of adequate insurance products and scarce capacity has been a significant barrier to broader adoption. Soter Insure addresses this gap by offering comprehensive insurance solutions tailored to the unique risks of decentralized technologies, thereby instilling confidence in institutional and retail participants.
The investment will support Soter Insure’s expansion, bolstering its underwriting and technology teams to scale operations across key markets.
“Our mission at Soter is to set a new standard for risk management in the digital assets space. We are proud to have the support of Galaxy and our other Series A investors as we work to build innovative insurance products that meet the unique needs of the market. With this funding, we’ll continue to expand our offerings and grow our footprint globally, providing clients with trusted and transparent risk management solutions,” said Henson Orser, Founder and CEO of Soter Insure.
Mike Novogratz, Founder and CEO of Galaxy, added, “Galaxy is excited to support Soter Insure in their mission to bring innovative insurance solutions to the digital asset ecosystem. Their tailored approach to risk management meets a crucial industry need, empowering digital asset holders and operators with confidence. We are excited to contribute to their growth and global expansion.”
Read the orginal article: https://ffnews.com/newsarticle/funding/soter-insure-closes-series-a-funding-led-by-galaxy-to-expand-digital-asset-insurance-solutions/
