Soter Insure adds SC Ventures and SBI Group to Series B round

What Soter does

Founded by Henson Orser and incubated by Further Ventures and WebN Group, Soter is based in Abu Dhabi. Its insurance operations sit in Bermuda, and it has offices in London, New York and Dubai. The company provides specialised cover for financial institutions active in digital assets. That cover includes cyber-related losses, crime, professional liability and smart contract failures.

Why insurance capacity matters

According to the company, insurance capacity remains one of the main missing pieces for banks and asset managers moving into digital assets. Without it, institutions cannot apply the risk standards they use for other asset classes. Soter argues that backing from two global financial groups shows specialised coverage is becoming a prerequisite for institutional participation.

"Banks can't scale in digital assets without the risk protection they rely on everywhere else, and today that protection is still scarce," said Orser, who is founder and CEO. He added that traditional finance and digital asset natives are now behind the same goal of insurance capacity at institutional scale.

Herve Francois of SC Ventures' Digital Assets Fund called insurance a critical but often overlooked part of the ecosystem. Yangte Kim, SBI Group's representative in the UAE, said robust insurance solutions will become increasingly important as adoption widens.

Soter plans to use the proceeds to increase its insurance capacity and strengthen its underwriting and technology. It also plans to expand into Asia-Pacific through its Hong Kong presence, as well as Europe and the US.