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Crypto Insurer Evertas Raises $5.8M in Seed Funding May 25, 2021
Evertas, a cryptoasset insurance company, said it has raised nearly $5.8 million in seed funding, which it will use to accelerate product development, increase its insurance cap[a city and build out its infrastructure.
The insurer is focused on covering institutional holders of cryptoassets, which include exchanges, custodians, traditional financial institutions, funds, family offices and ultra-high net worth individuals.
Chicago-based Evertas says it is the world’s first cryptoasset insurance company. In February 2020, the company rebranded from BlockRe, which was founded in 2017. The company received a license from the Bermuda Monetary Authority to start operating from the jurisdiction last June.
Evertas Raises $5.8M in Seed Funding
Evertas, a Chicago, IL-based crypto insurance company, raised $5.8M in seed funding.
The round was led by Morgan Creek Digital, CMT, HashKey, Wave Partners, RenGen, 4RC, Centrality, Plug ‘n Play, Vy Capital, and a number of individual investors including James Slazas (CEO of VaultLink), Tyler Ward (Founder of BarnBridge), Quinn Abrahams (Partner of D64), Shy Datika (Founder & President of INX), and Sandra Ro (CEO of Global Blockchain Business Council and former Head of Digitization at CME Group).
The company will use the funding to accelerate product development and build out infrastructure.
Led by J. Gdanski, CEO, and Raymond Zenkich, President, Evertas has created the only comprehensive underwriting tools and framework for crypto (including blockchain/DLT systems), an end-to-end insurance product for crypto including claims handling, and comprehensive risk management processes to underwrite and scale insurance products.