Evertas, the <a href="https://www.cryptoknowmics.com/news/things-you-can-do-with-cryptocurrency">cryptocurrency</a> insurance provider that obtained <a href="https://www.evertas.com/evertas-closes-14-million-venture-financing-round/" target="_blank" rel="nofollow noopener">approval</a> from Lloyd's of London earlier this year, has attracted $14 million in investment. It is underscoring the demand for reassurance in the unsteady, unpredictably changing world of <a href="https://www.cryptoknowmics.com/news/forum3-raises-10m-to-bring-digital-assets-to-brands-loyalty-programs">digital assets</a>.

https://twitter.com/EvertasRisk/status/1602350299989118997
<h2>Evertas Raised $14 Million Series A Round</h2>
The company's total external investment now stands at $19.8 million after the $14 million Series A round. <a href="https://www.cryptoknowmics.com/news/polychain-backed-dfx-finance-hacked-for-7-5-million">Polychain Capital</a> led the round, and a $5.8 million venture capital was received last year.

Due to factors including costly premiums and vague policy wording, large exchanges are not sure that insurance of bitcoin wallets against hacks, thefts, and natural catastrophes is worthwhile. However, J. Gdanski, CEO of Evertas, noted that in these tumultuous times, having insurance on assets ensures that a competent underwriting company from a third party has examined a firm's systems and controls.
<h2>Participation of Individual Investors</h2>
In addition, Gdanski noted that Evertas has been in contact with the <a href="https://www.cryptoknowmics.com/news/sec-proposed-new-rules-for-companies-to-disclose-crypto-risks">U.S. Securities and Exchange Commission (SEC)</a> regarding how insurance can be a reliable stand-in for regulation when it comes to a quickly evolving technology like custodial cryptocurrency. This need, he said, will become even more urgent after the recent <a href="https://www.cryptoknowmics.com/news/ftx-founder-sam-bankman-fried-detained-bahamas">FTX</a> collapse.

Morgan Creek, Foundation Capital, SinoGlobal Capital, CMT Digital Ventures, network0, Matrixport, and HashKey were also participants in the Series A investment. David Roebuck, Patrick McDonald, Andrew Keys, Colleen Sullivan, and Balaji Srinivasan are some of the individual investors. According to investor Andrew Keys, co-founder of consultancy company Darma Capital, the crypto insurance industry lacks practically no actual and devoted expertise outside of Evertas.

Crypto Insurance Firm Evertas Raises $14M to Combat Bear Market

Evertas, the cryptocurrency insurance provider that obtained approval from Lloyd's of London earlier this year, has attracted $14 million in investment.

Gungun is an enthusiastic writer that likes to create content for various aspects of the blockchain and crypto industry. She carries out extensive research and provides readers with informative and high-quality material.

Crypto Insurance Firm Evertas Raises $14M to Combat Bear Market

Top Picks