Coincover, a UK-based provider of digital asset protection services, has reported raising $30 million in funding.
The funds were received by the company following the results of a funding round led by the Silicon Valley Capital Fund.
Through the provision of its services, Coincover contributes to solving one of the most acute and sensitive problems in the field of digital assets, which is trust. The company announced that it has managed to develop a unique technology that protects the assets of firms operating in the cryptocurrency industry and private investors.
Monitoring and analysis systems developed by Coincover can record financial transactions of a suspicious nature. The company is also ready to provide compensation in case of hacking since its technology is insured. End-to-end encrypted storage is a guarantee that personal data will not end up in the illegal possession of third parties.
Coincover was founded in 2018 by David Janczewski and Adam Smith, who also worked at the Royal Mint on digitizing gold for the British government.
Currently, the company has more than 300 clients, including exchanges and wallets, hedge funds, family offices, and banks. The firm also cooperates directly with the custodians of digital assets. This interaction allows ensuring a high level of customer security.
As part of the disbursement of the attracted financing, the company will solve several tasks. Due to the use of new investment proceeds, the firm will expand its staff. Also, as part of this process, the supplier’s product line will be updated. Another direction of using the received funding will be the activation of partnerships with other firms.
David Yanchevsky says that after a difficult year for the crypto market in 2022, many businesses and consumers are interested in the services of Coincover, as they strive to ensure the maximum level of protection of their digital assets. He also noted that the new financing will improve the quality of the product offered to customers.
As we have reported earlier, Lunar Raises €35 Million.