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Soter Insure closes Series A funding round

Henson Orser, founder and chief executive of Soter Insure (File photograph)

Soter Insure, the parent company of a Bermudian-based Class IIGB licence holder, has successfully closed its Series A funding round.

The capital raise was led by Galaxy, with participation from Brevan Howard Digital, Karatage, Token Bay, Pharsalus and others.

Soter Insure is a provider of specialised insurance products tailored to the digital asset economy.

Headquartered in Abu Dhabi and operating out of Bermuda with Soter Insurance Ltd, the company also has offices in London, New York and Dubai.

Soter offers specialised digital asset insurance products for financial institutions, including asset loss, directors & officers, and smart contract failure coverage, denominated in both fiat and native digital assets.

As the Web3 space continues to evolve, the company said the lack of adequate insurance products and scarce capacity has been a significant barrier to broader adoption.

Soter Insure said it addresses this gap by offering comprehensive insurance solutions tailored to the unique risks of decentralised 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.

Henson Orser, founder and chief executive of Soter Insure, said: “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, founder and chief executive of Galaxy (File photograph)

Mike Novogratz, founder and chief executive 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.”

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Published February 17, 2025 at 3:35 pm (Updated February 17, 2025 at 7:52 pm)

Soter Insure closes Series A funding round

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