Soter Insure has successfully closed its Series A funding round, led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus, and other strategic investors.
Specializing in tailored insurance solutions for the digital asset sector, Soter Insure offers coverage for asset loss, directors and officers (D&O) liability, and smart contract failures. The company’s policies are available in both traditional fiat currency and native digital assets, providing flexibility for clients operating in the Web3 ecosystem.
Headquartered in Abu Dhabi with operations based in Bermuda, Soter Insure also maintains offices in London, New York, and Dubai. The company was incubated by Further Ventures and WebN Group and is committed to addressing the insurance capacity challenges prevalent in the digital asset industry.
The capital raised from the Series A round will be utilized to expand operations and enhance the company’s underwriting and technology teams, reinforcing its ability to serve the evolving needs of the digital asset sector.
Investment in protection solutions for digital assets continues to gain momentum, with leading firms strengthening their presence in this space. Notably, last year, global brokerage WTW launched a fintech and digital assets task force to help clients navigate the complex risks associated with the digital asset ecosystem.
Additionally, industry leader Marsh has introduced an innovative insurance solution tailored for custodians of digital assets, including financial institutions, further demonstrating the growing demand for risk management solutions in this rapidly evolving industry.
