Foundation Capital leads digital asset protection startup Coincover's $30 million raise.
Digital assets protection firm Coincover has raised $30 million in a round led by Foundation Capital.Crypto protection startup Coincover has secured $30 million in funding in a round led by Foundation Capital.protection and insurance-backed guarantees to crypto investors and companies through its technology platform. The insurance protection is underwritten by Lloyds of London insurers.a $9.
"I think it's the next round of logical fundraising," said Janczewski in an interview with The Block."There are certain people who will put a letter on that. So it's logical if the last one was A that this was B, but I guess it's just the next logical step for us in terms of raising the right amount of capital, more importantly from the right venture building partners to scale the business to the next stage.
"I would say that we've seen a a substantial increase in demand by a wide variety of customers who when I speak with any of them are eager and keen to be proactive when they think about protecting client assets," said Janczewski describing the impact of the bear market on market appetite.The digital assets sector is underserved by the broader insurance market, in part because it is so young but also due to its volatility.
"We select our partners and I think they select us very carefully and I think that's good for the market in general," he added."Our ability to onboard more partners throughout this year is now increased, which is fantastic."
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