Seed8 July 2021

Coincover secures £6.7m Series A investment led by Element Ventures

Element Ventures led the Series A round to support team expansion and product development.

£6.7MSeed

Coincover provides digital asset protection technology designed to safeguard cryptocurrency holdings against theft, hacking, and human error. The company serves over 300 businesses by removing single points of failure in digital asset storage.

Coincover has secured £6.7m in a Series A funding round led by Element Ventures. The capital will be deployed to expand the team and increase market awareness of its cryptocurrency protection platform. A broad syndicate of investors participated in the raise, including DRW Venture Capital, CMT Digital, Avon Ventures, and Valor Equity Partners.

From the founder

"Crypto can be complex and confusing and people have valid fears around the safety of their funds. With Coincover, we are providing a fundamental building block for a rapidly maturing market by ensuring that people can be protected against making a mistake that can end up costing them thousands. This investment means we can rapidly scale our growth to market and consumer demands, and in doing so ensure more people can invest in crypto safely."

David Janczewski

CEO and co-founder at Coincover

Investor perspective

"More and more people are investing in cryptocurrencies but the industry needs infrastructure and safeguards to make it more consumer-friendly. People don't want to be losing their laptops and having millions go missing. Coincover is building the infrastructure that will allow crypto to reach mass adoption, with a fantastic management team that can tackle this problem in a way that no one else can. We're delighted to be supporting David and the team and can't wait to be a part of their growth journey."

Michael McFadgen

Partner, Element Ventures