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Soter Insure raises first close of Series B funding round
The first close brings total Series B funding to $23.5 million to date, with capital tied to underwriting and technology expansion.
Soter Insure, a specialized insurer for the digital asset economy, has announced the first close of its Series B funding round. The round is led by Galaxy Digital, with new participation from Coinbase Ventures and Franklin Templeton, and follow-on investment from Brevan Howard Digital and other existing backers, according to Coverager.
The company said a second close is expected in the coming weeks as it finalizes participation from additional strategic investors. When the Series B is fully closed, Soter Insure expects total funding to date to reach $23.5 million, along with more than 500 BTC and 2000 ETH.
Headquartered in Abu Dhabi with operations out of Bermuda and offices in London, New York, and Dubai, Soter Insure offers digital asset insurance products for financial institutions. Its coverage includes Directors and Officers, Professional Indemnity, Crime, Specie, Slashing, and Smart Contract Failure, and is described as being denominated in both fiat and native digital assets.
Coverager reports the new funding will support Soter Insure’s continued expansion, including deepening underwriting and technology capabilities and scaling operations across key markets. In remarks attributed to Soter Insure founder and CEO Henson Orser, the company said it will accelerate its product roadmap, expand capacity, and extend its global footprint.
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