Evertas, the cryptocurrency insurance firm that was approved by Lloyd’s of London earlier this year, has raised $14 million in funding, highlighting the need for assurances in the volatile, unpredictable digital asset space. Polychain Capital led the $14 million Series A round, which adds to the $5.8 million seed funding secured last year, bringing the company’s total outside investment to $19.8 million. Insurance for cryptocurrency wallets against hacks, thefts, and natural disasters hasn’t convinced all of the major exchanges that it’s worth the squeeze, owing to factors such as high premiums and ambiguous policy definitions. However, in these uncertain times, having insurance over assets ensures that a third-party professional underwriting firm has examined a firm’s systems and controls, according to Evertas CEO J. Gdanski.
