Code & Co. advises Insurtech Gateway on the investment in the fast-growing crypto insurer Coincover
Code & Co. advised Insurtech Gateway on the technology & product due diligence of the seven-figure growth investment in Coincover, a leading provider of crypto asset insurances.
Tech & Product Due Diligence
Cryptocurrency & Blockchain
The cryptocurrency market is heating up with significant growth in 2020 and a new wave of potential crypto investors ready to join in. But there is just one thing keeping them from taking the plunge - a safety net.
Cardiff Bay-based Coincover is at the leading edge of the nascent digital asset insurance sector estimated to be worth up to $3BN annually already. The company specializes in protecting cryptocurrencies held online offering digital asset insurance, security, and compliance products that are explicitly built for the blockchain infrastructure.
Coincover was founded in 2018 by David Janczewski, who had spent several years leading the UK Royal Mint’s blockchain-enabled digital gold initiative and providing advice to other blockchain projects: "Coincover helps crypto businesses to address the security concerns of the cautious investor and delivers the trust mark they need to stand out in a crowded and wary market. We are the only company in the world with a security product that is backed by Lloyds of London, providing protection from cryptocurrency theft at the individual level and an opportunity to maximize business revenue by enabling our partners to build systems that create strong trust with their clients."
The lead investor, Insurtech Gateway, is the only FCA-authorized independent incubator and fund making it an ideal place to build and launch an InsurTech idea.
Code & Co. acted as exclusive technology and product due diligence advisor to Insurtech Gateway. The transaction underlines Code & Co.’s position as a market-leading technology and product advisor to clients across Europe. It further highlights Code & Co.’s deep sector expertise in various technologies and operationally highly complex sectors of the global digital economy.
Code & Co. is an independent advisory firm specialized in advising funds in the global alternative investment industry. Our expertise is modern and holistic technology and product due diligence. From outside-in audits and confirmatory due diligence to portfolio audits, exit preparation, and vendor due diligence, we provide our clients with crucial insight across the entire investment life cycle.