Crypto insurance startup Evertas raises $2.8 million in seed funding

Source: The Block 2020-07-16

Crypto insurance provider Evertas has raised $2.8 million in seed funding, according to a statement shared with The Block on Wednesday.

Morgan Creek Digital Assets led the round, with participation from Plug n Play, Kailash Ventures, RenGen, Vy Capital, and Wavemaker Genesis. As part of the investment, Mark Yusko, founder, CEO, and chief investment officer of Morgan Creek Capital has joined Evertas’ board of directors.

Evertas, formerly known as BlockRe, provides insurance covers to exchanges, custodians, traditional financial institutions, and ultra-high net worth individuals. It is not clear who are Evertas’ current clients. The Block has reached out to the firm and will update this story should we hear back.

Evertas operates in California as BlockHoldings Insurance Agency, according to its website, and has a license from the Bermuda Monetary Authority to serve as a “Class 3A” insurer in the jurisdiction. Class 3 insurers are small commercial insurers required to maintain minimum capital and surplus of $1 million.

Evertas

seed funding round

Crypto insurance startup Evertas raises $2.8 million in seed funding

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