Bermuda crypto insurer Evertas raises new funds

Evertas, the crypto asset insurer with a Bermuda-based subsidiary, has raised $14 million in Series A funding.

The money is in addition to the $5.8m seed financing the company raised. Evertas said it will use the funding to expand underwriting capacity, add personnel and develop new technologies and standards.

Evertas was founded in 2017 by CEO J. Gdanski and president Raymond Zenkich. The company is focused on covering crypto risks for institutional holders of crypto assets and blockchain technology.

The new fundraising was led by Polychain Capital. Other participants included SinoGlobal Capital, CMT Digital Ventures, Foundation Capital, Morgan Creek, Bloccelerate, Matrixport, and Hashkey. Individual investors include Balaji Srinivasan, Andrew Keys, Colleen Sullivan, Tom Howard, Patrick McDonald and David Roebuck.

Gdanski said: “2022 has been a very important year for Evertas. It started with our gaining Lloyd’s of London coverholder status and is ending with a substantial vote of confidence by some of the smartest investors in the Web3 world. We will be working overtime to be worthy of that confidence.”