Soter Insure Secures Series A Funding to Enhance Digital Asset Insurance Solutions

Soter Insure, a company dedicated to providing specialized insurance products for the digital asset industry, has recently completed a successful Series A funding round. This round was primarily led by Galaxy, with additional participation from notable investors such as Brevan Howard Digital, Karatage, Token Bay, and Pharsalus, among others. Headquartered in Abu Dhabi and operating out of Bermuda, Soter Insure also maintains offices in major financial hubs including London, New York, and Dubai.

The company, which originated under the guidance of Further Ventures and WebN Group, aims to address the pressing need for tailored insurance solutions within the rapidly evolving digital asset sector. Their products include comprehensive coverage options such as Asset Loss, Directors and Officers (DO) insurance, and Smart Contract Failure coverage—all of which can be settled in both traditional fiat currencies and native digital assets.

As the Web3 landscape continues to grow, it has become increasingly clear that a significant barrier to wider adoption has been the lack of adequately designed insurance products and limited availability. Soter Insure is actively working to bridge this gap by offering solutions that mitigate the unique risks associated with decentralized technologies. This approach is intended to inspire confidence among both institutional and retail participants in the digital asset space.

Henson Orser, the Founder and CEO of Soter Insure, expressed his enthusiasm about the funding, stating, "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."

Mike Novogratz, the Founder and CEO of Galaxy, shared his perspective on Soter Insure's significance in the industry: "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."

The successful closing of this Series A funding not only signifies a robust endorsement of Soter Insure’s business model and vision but also highlights the growing recognition of the necessity for specialized insurance products in the digital economy. This funding will permit Soter Insure to bolster its underwriting capabilities and technology teams, facilitating an expansion into key markets.

Soter Insure aims to enhance its impact further, assuring clients that their innovative insurance solutions will meet the evolving demands of an ever-changing digital landscape.

For those interested in more information about Soter Insure and their offerings, be sure to visit their official website at soter.insure. As the company expands its reach, it remains dedicated to providing innovative, reliable, and transparent insurance solutions tailored to the digital asset sector.