Nydig eyes insurance market with $100m injection

Apr 9, 2021 • Jordan Williams

Starr Insurance and Liberty Mutual Insurance are among the insurance providers that have backed the Bitcoin custodian services provider in its latest round.

US-based Bitcoin custodian services provider Nydig has pulled in $100m in growth financing from insurance firms Starr Insurance and Liberty Mutual Insurance as well as unspecified property and casualty-focused insurance providers.

The additional capital follows a $200m round last month that was co-led by insurance firms MassMutual and New York Life with Nydig’s parent company, asset manager Stone Ridge Holdings, investment bank Morgan Stanley, Soros Fund Management and FS Investments.

Venture capital firms Bessemer Venture Partners (BVP) and FinTech…

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