Soter Insure has landed the first close of its Series B raise, and the deal puts a sharper spotlight on how digital asset risk is getting more serious, more specialized, and a lot harder to ignore. Galaxy Digital stepped in as lead investor again, with fresh backing from Coinbase Ventures and Franklin Templeton, while other existing supporters stayed in the mix.
The company is now heading toward a second close in the coming weeks, and that next step could pull in more strategic backers. If that happens, the round will add up to Dh86.3m in total funding, along with more than 500 Bitcoin and 2,000 Ethereum already on hand.
That kind of balance sheet tells you what Soter Insure is trying to build. This is not a generic insurer throwing around buzzwords, but a firm focused on coverage for institutions that live in the digital asset world and need protection that matches the pace and risk of the market.
Its product set reaches into some of the roughest corners of that space, including crime, directors and officers, professional indemnity, slashing, smart contract failure and specie. Policies can be written in fiat or in native digital assets, which gives clients more flexibility than the usual one-size-fits-all approach.
The company says the new capital will help it widen underwriting capacity, sharpen its technology, and push further into core markets. That matters in a business where trust, speed, and credibility can decide whether a client signs on or walks away.
Founder and CEO Henson Orser put it plainly: “With this capital we will accelerate our product road map, expand capacity and extend our global footprint, and we look forward to welcoming further partners at our second close.”
Galaxy Digital’s continued role is no small signal. Its president and CIO Chris Ferraro said: “We are proud to lead this round again, and our continued investment reflects the strength of the team and the growing importance of specialised risk solutions for this asset class.”
Soter Insure is based in Abu Dhabi and operates from Bermuda, with offices in London, New York and Dubai. That spread gives it a global footprint right out of the gate, which is especially useful in a market that does not stay still for long.
The company was incubated by Further Ventures and WebN Group, giving it a launch pad that blends venture support with a clear focus on infrastructure. It also picked up full authorisation in May from the Dubai Financial Services Authority under a category 4 licence for insurance intermediation.
That licence gives Soter Insure’s DIFC-registered entity the ability to run intermediation activities from within the DIFC, putting it in one of the most important financial centers in the region. It also opens the door to direct work with institutional clients across the Middle East and North Africa, while placing coverage and reinsurance through Soter’s Bermuda-regulated carrier paper.
For a sector that has spent years fighting for mainstream acceptance, moves like this matter. Institutions want protection they can understand, regulators want structure, and investors want to know the plumbing is real before they commit bigger money.
Soter Insure is clearly betting that the next wave of digital asset adoption will need more than trading venues and custody platforms. It will need the boring but essential layer underneath, the part that makes big firms feel comfortable enough to stay in the game.
