Coincover

In November 2018, the company raised early funding from a syndicate of business angels led by Ashley Cooper and match funding from the Wales Angel Co-investment Fund. This investment helped Coincover to refine and market, test the proposition and to achieve initial product-market fit prior to commercial launch. To meet growing demand from the cryptocurrency market Coincover completed a further growth funding round in 2020. The seven-figure equity investment was led by Insurtech Gateway, with co-investment from the Development Bank of Wales.

In 2021, a partial exit by the Wales Angel Co-investment Fund enabled the company to raise $9.2m in a Series A round led by global venture capital fund Element Ventures. The Wales Angel Co-investment Fund has retained part of its shareholding, while the Development Bank has invested a further £390,000 equity finance through its Wales Flexible Investment Fund.

At the start of 2023, Coincover raised $30 million in a funding round that'll go towards hiring, product updates and pursuing partnerships. The round was led by Silicon Valley investment firm Foundation Capital.