Soter Insure, a specialist provider of insurance products for the digital asset sector, has completed the first close of its Series B funding round, led by existing investor Galaxy Digital, with new backing from Coinbase Ventures and Franklin Templeton.
Existing investor Brevan Howard Digital also participated in the round, alongside other current shareholders. The company said a second close is expected in the coming weeks as additional strategic investors complete their commitments.
Upon completion of the full Series B round, Soter expects to have raised $23.5 million, in addition to more than 500 BTCand 2,000 ETH in funding.
Headquartered in Abu Dhabi and operating from Bermuda, with offices in London, New York and Dubai, Soter Insure was incubated by Further Ventures and WebN Group. The company provides insurance solutions tailored to financial institutions operating in the digital asset economy.
Its portfolio includes Directors & Officers (D&O), Professional Indemnity, Crime, Specie, Slashing, and Smart Contract Failure insurance, with policies available in both traditional fiat currencies and native digital assets.
Soter said the new capital will be used to expand its underwriting capabilities, enhance its technology platform and accelerate growth across key international markets.
Founder and Chief Executive Officer Henson Orser said the funding demonstrates growing confidence in the company’s approach to digital asset risk management.
“Our mission at Soter is to set a new standard for risk management in the digital asset space. Reaching the first close of our Series B – with Galaxy leading again and new partners like Coinbase Ventures and Franklin Templeton joining alongside the continued support of Brevan Howard Digital – is a powerful validation of the platform we are building.”
Orser added that the funding would help accelerate product development, increase underwriting capacity and support the company’s international expansion.
Chris Ferraro, President and Chief Investment Officer at Galaxy, said insurance remains a critical component of institutional adoption in the digital asset market.
“Insurance remains a key gap to institutional adoption of digital assets, and Soter has built a platform that closes it. We’re proud to lead this round again, and our continued investment reflects the strength of the team and the growing importance of specialized risk solutions for this asset class.”
The investment comes as demand for digital asset insurance continues to grow alongside increasing institutional participation in cryptocurrency and blockchain markets. As more financial institutions seek exposure to digital assets, specialist insurers are expanding products designed to address emerging risks ranging from cybercrime and custody to smart contract failures and blockchain infrastructure.
