Unslashed Finance, a London, UK-based company that provides insurance products for crypto assets, raised $2M in funding.
Backers included Lemniscap, P2P Capital, Bitscale Capital, Chainlayer, and several angels, including Enzyme founder Mona El Isa, founder of Kyber Loi Luu, founder of Deversefi Will Harborne and founder of Argent Itamar Lesuisse.
The company intends to use the funds to continue to expand operations and its business reach.
Led by Marouane Hajji, Founder, Unslashed provides insurance products for crypto assets, covering significant risks from exchange and smart сontract hacks to validators slashing to stablecoin pegs and oracle failures. The company has built a decentralized protocol for people willing to buy insurance for their assets and investors looking to earn an uncorrelated yield. The protocol ensures all underwritten risks are constantly collateralized, and the entire claims process is fully decentralized, independent, and transparent. Unslashed has already sold more than $400M worth of insurance across different protocols and policies.
Clients include decentralized exchange aggregator ParaSwap, infrastructure provider and validator for Ethereum Lido Finance, Ethereum-based protocol for decentralized on-chain asset management Enzyme, and several crypto hedge funds such as Techemy Capital who leverage insurance to hedge a certain number of risks.