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By reducing the risk associated with cryptocurrencies, Coincover is aiming to democratise access to the industry, give people the choice to invest in this burgeoning industry and ultimately create the safety standard needed to establish cryptocurrency as a global financial standard. To power this, Coincover has raised $9.2m in Series A funding. Element Ventures led the round, along with participation from DRW Venture Capital, CMT Digital, Avon Ventures, Valor Equity Partners, FinTech Collective, “Susquehanna Private Equity Investments, LLLP”, Volt Capital and the founding investors, Insurtech Gateway Fund and the Development Bank of Wales.
David Janczewski, Co-founder and CEO at Coincover, said: “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.”
