Bitcoin Life Insurance Firm Secures $40 Million in Funding
A pioneering life insurance company, Meanwhile, has raised $40 million in a Series A funding round. The firm, regulated by the Bermuda Monetary Authority, offers Bitcoin-denominated whole life insurance.This unique product aims to protect against various financial risks.
The funding round was co-led by Fulgur.ventures and Framework Ventures. Fulgur.ventures specializes in Bitcoin investments, while Framework Ventures focuses on decentralized finance. Bitcoin pioneer Wences Casares also participated in the round.
Founded three years ago, Meanwhile plans to use the funds to expand its global presence.The company’s insurance and annuity products are designed to safeguard against political, currency, and inflation risks. “Our goal is to provide financial security that retains its value over time,” the firm stated on X.
Bitcoin-denominated insurance offers several advantages. It protects against currency debasement, provides tax benefits, and ensures on-demand liquidity. Meanwhile’s founder, Zac townsend, highlighted the challenge of creating a life insurer entirely based on Bitcoin. “We handle premiums, claims, and financial audits all in Bitcoin,” he explained.
For Bitcoin holders, these policies offer more than just wealth preservation. They also provide exposure to Bitcoin’s long-term growth potential. Simultaneously occurring previously raised $20.5 million in its seed round, backed by notable figures like OpenAI CEO Sam Altman.
