InsurAce — $1 Million Seed Funding Raised From Tier-1 Institutions

Dear InsurAce Community,

We are excited to announce that we have successfully raised $1 Million in our seed round led by DeFiance Capital with participation from Parafi Capital, Huobi DeFi Labs, Hashed, Signum Capital, and Lunex Ventures. We are truly honored and thankful to be backed by this amazing group of investors, and also apologize to those who couldn’t take part due to the heavy oversubscription.

The funds raised will go towards accelerating the development of the product, performing audits, building community, and promoting the platform.

As Decentralized Finance (DeFi) continues to proliferate, the demand for DeFi insurance is ever-increasing. We are committed to building a reliable, robust, and flexible insurance protocol to meet the needs of DeFi users.

We couldn’t be more excited to embark on this new journey. We look forward to becoming your trusted insurance partner in your crypto journey.

“This seed funding is crucial to support us in product development, community building, and business development,” said Oliver Xie, founder, and CEO of the protocol. “Hack strikes, InsurAce helps. We aim to build a decentralized insurance platform, providing carefree insurance services, and creating sustainable investment returns for our users.”

As decentralized finance (DeFi) continues to grow, cyber-attacks on smart contracts has been increasing drastically and causing considerable loss of funds to DeFi users. InsurAce is building a reliable, robust, and flexible insurance platform to protect DeFi users against such risks. Similar to traditional insurance companies, InsurAce will operate two business divisions — an insurance arm and an investment arm. The combination of the two will allow the protocol to provide very low-premium insurance and insured investment products. Furthermore, the portfolio-based coverage model is a unique offering in the market that will provide a hassle-free user experience with substantially reduced insurance premiums. According to Oliver Xie, the protocol will also be launching its liquidity mining program to bootstrap the capital pool.

“We are excited to lead InsurAce’s seed round and support them in building an innovative decentralized insurance protocol to complement the exponential growth of DeFi space now. InsurAce has one of the strongest team we have seen in DeFi Insurance space consist of blockchain and financial industry veterans, we are proud to work closely with them to expand insurance coverage to the crypto community.” said Arthur Cheong, Founder at DeFiance Capital.

“Insurance is a critical component for the growth of any industry. For DeFi to reach mainstream adoption, we need a robust insurance market with multiple providers. As active users of DeFi protocols, we’re keen on supporting InsurAce develop user-centric solutions will allow users to capture the benefits of DeFi while minimizing the risks,” said Santiago Roel Santos, Partner at ParaFi Capital.

“The awareness of risk involved in DeFi has improved dramatically, however the creation of sustainable and financially attractive insurance pool is still in progress. The launch of InsuAace is monumental in that solves this huddle for the whole market,” said Baek Kim, Partner at Hashed.

Thank you,

The InsurAce Team

About InsurAce

InsurAce is a decentralized insurance protocol, aiming to provide reliable, robust and carefree DeFi insurance services to the DeFi users, with very low premium and sustainable investment returns. InsurAce’s highlights include “0” Premium, Enriched Product Line, SCR Mining and Sustainable Return. InsurAce’s mission is to redefine DeFi insurance and protect users from security risks with user-friendly product accessibility and capital efficiency.