Digital asset security firm Coincover bags $30m in funding
Coincover, a Cardiff-based digital asset protection technology firm, has raised $30 million in a funding round led by Foundation Capital.
Coincover secures $30m in funding
The company is attempting to restore trust in the cryptosphere through the provision of products that protect digital asset holders from “both hackers and human error”.
Founded in 2018 and launched in 2019, Coincover works with more than 300 exchanges, wallets, hedge funds, family offices and banks to stop fraudsters and scammers. The firm also works directly with a number of digital asset custodians including Fireblocks and Bitso.
It says it handles the secure storage of digital assets and provides trained operators, separate insurance, technical expertise, training, testing and high-security hardware to businesses “at a fraction of the cost” of tackling it alone.
The latest cash injection will boost its recruitment efforts and support the forging of new partnerships. The company also plans to put some of the money towards the development of new products.
Coincover CEO and co-founder David Janczewski, who spent five years working in blockchain at The Royal Mint for the UK government, says Coincover is in “high demand” in the wake of a challenging year for the crypto market.
“Through this new funding, we can supercharge our service for all existing and future customers,” he adds.
