Coincover fuels growth with latest investment round
by Startacus Admin
Major investment for innovative crypto security startup Coincover
This is proving to be a good year for the cryptocurrency market with both significant growth and a new wave of potential crypto investors ready to join in. But there is just one thing keeping them from taking the plunge - a safety net. Coincover, on the way to becoming the #1 brand in crypto security and specialising in protecting cryptocurrencies held online, announced it has recently closed a growth funding round as it seeks to meet the growing demand from the cryptocurrency market
Insurtech Gateway led the round with significant investment from the Welsh Development Bank Technology fund. The investment in Coincover is at the leading edge of the nascent digital asset insurance sector estimated to be worth up to $3BN annually already.
Coincover was founded in 2018 by David Janczewski, who had spent several years leading The UK Royal Mint’s blockchain-enabled digital gold initiative and providing advice to other blockchain projects.
Protected by Coincover is fast becoming the way for a business to demonstrate it has fully compliant crypto offering and is fully covered against the risk of its customer investments being lost or stolen by Coincover‘s unique compliance, security and insurance product offering explicitly built for blockchain infrastructure.
And by providing Coincover protection direct to their customers, businesses can offer the world’s first way for consumers to take out protection for their investments, attracting more happy customers and creating an additional revenue stream in the process.
David Janczewski said: “Coincover helps crypto businesses to address the security concerns of the cautious investor and delivers the trust mark they need to stand out in a crowded and wary market. We are the only company in the world with a security product that is backed by Lloyds of London, providing protection from cryptocurrency theft at the individual level and an opportunity to maximise business revenue by enabling our partners to build systems that creates strong trust with their clients.”
Richard Chattock, CEO of the lead investor, Insurtech Gateway added: “Digital assets are growing at an exponential rate globally, and represent the next “blue ocean” for insurance and protection. Innovative solutions like those offered by Coincover are reducing the risks and barriers to digital asset adoption, and we were delighted to continue our support.”
David Janczewski continued: “Coincover is removing the last major barrier to the mass- market adoption of cryptocurrencies. We are already partnering with the world’s leading cryptocurrency solution providers to deliver the safest way into cryptocurrency. In the age of cryptocurrency vulnerability, businesses have to deal with people’s fear of lost or stolen funds."
Subscribe to our newsletter
If you would like to receive our startup themed newsletter, full of the latest startup opportunities, events, news, stories, tips and advice, then sign up here.
Thinking about investing in Bitcoin? Here are a few of the key things that you should consider before you start
Need to get your business in order? Here are a few business tools that will help you do just that
Thinking about starting a business during the pandemic? Here are some basic tips to help you do just that
Disease Screening and Diagnosis startup, Occuity has raised more than £1m, supported by Angel Investment Network
HeyPlants is a new online marketplace connecting garden enthusiasts directly with local sellers, garden centres and nurseries
Third-generation German shipowner turned venture capitalist, Christian Oldendorff, is one of the youngest leaders, recognised in The Thirty@30 Years list
Briiv is a Yorkshire-based startup that has created a new type of air purifier, inspired by nature and powered by Nanotechnology
.png)
The lowdown on the Liverpool-based Nova programme that is on the hunt for ambitious, early-stage founders and teams from throughout the UK to be part of its next cohort
We take a look at some basic tips on how social media has evolved and how small business owners can make it work to their advantage
If you're thinking about your business making the move to remote working on a permanent basis, these tips from other business owners will help
Published on: 14th July 2020
If you would like to enable commenting via your Startacus account, please enable Disqus functionality in your Account Settings.
- Nova seeking ambitious founders for its co-foundery programme 15th Oct 2020 The lowdown on the Liverpool-based Nova programme that is on the hunt for ambitious, early-stage founders and teams from throughout the UK to be part of its next cohort
- Impact of COVID-19 on female-led businesses 13th Oct 2020 Resilience and Recovery, a new report from The Female Founders Forum is released outlining the impact of COVID-19 on female-founded, equity-backed businesses
- Landscape - transparency for fundraising founders 13th Oct 2020 Landscape launches - the platform that’s bringing transparency to fundraising founders and is being described as the ‘Glassdoor for Venture Capital’
- Antler invests in 7 new UK tech startups 12th Oct 2020 The global early-stage venture capital firm Antler reveals that it has invested in 7 tech startups from its second UK cohort
