BTC-denominated insurance firm meanwhile secures $40m in VC funding
A Bitcoin-denominated life insurance firm regulated by the Bermuda Monetary Authority called meanwhile has secured $40 million in a Series A funding round.
The company, whose pioneering product is a Bitcoin (BTC) denominated Whole Life Insurance, announced it raised the funding in a round co-led by venture capital firms fulgur.ventures and Framework Ventures.
Fulgur.ventures is a BTC-focused VC, while Framework Ventures is a leading investor in decentralized finance and crypto-native funds. Meanwhile also attracted participation from Wences Casares, a Bitcoin pioneer and co-founder of Bitcoin-enabled Xapo Bank.
The company, founded three years ago, will use the capital injection to accelerate the global rollout of its BTC-denominated life insurance and annuities. It aims to bring its insurance offerings to millions of users, with products designed to protect against various risks.
“Everyone deserves access to financial products that maintain their value over time—especially for long-term planning and family protection. This funding empowers us to reach more people who are concerned about political risk, currency risk, inflation risk, or regime risk,” the firm wrote on X.
The Bitcoin-denominated insurance product provides features that traditional financial products do not. It includes protection from currency debasement, as well as tax advantages and on-demand liquidity.
“One impossible task was creating a globally unique life insurer entirely denominated in Bitcoin,” said Zac Townsend, founder of meanwhile. “We accept premiums, pay claims, and conduct our audited financials, reserves, and solvency calculations entirely in Bitcoin”
For Bitcoin holders, the company’s insurance policies go beyond the preservation of wealth for future generations. Policyholders gain exposure to Bitcoin’s long-term growth potential.
Meanwhile previously raised $20.5 million in its seed round, which attracted backing from OpenAI CEO Sam Altman and Bitwise CEO Hunter Horsley, among others.
