Seed14 July 2020

Coincover secures a seven-figure seed investment led by Insurtech Gateway to fund market expansion.

The seven-figure equity round was led by Insurtech Gateway with backing from the Development Bank of Wales.

£1.0MSeed

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 a seven-figure seed investment led by Insurtech Gateway, with participation from the Development Bank of Wales and the Wales Angel Co-investment Fund. The funding will allow the Cardiff Bay-based business to meet rising demand and scale its cryptocurrency security operations following a surge in enquiries during the COVID-19 pandemic. Founded in 2018, the company delivers protection solutions for blockchain infrastructure to address security concerns among potential digital asset investors.

From the founder

"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."

David Janczewski

CEO and co-founder at Coincover

Investor perspective

"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."