Bitcoin Life Insurance Startup ‘Meanwhile’ Secures $40 Million Investment
Bitcoin-focused startup Meanwhile has raised $40 million in a Series A funding round led by venture capital firms Framework and Fulgur Ventures. The investment will be used to accelerate the company’s global expansion of its bitcoin-denominated life insurance and annuity products.
Meanwhile’s insurance products are designed to shield policyholders from inflation and currency risk by keeping premiums and benefits in bitcoin. This model flips the traditional life insurance structure, which typically pays out in fiat currencies. The company’s approach could help preserve purchasing power for future payouts, particularly in countries where local currencies are losing value. However, policyholders also take on bitcoin’s price volatility.
The investment follows a previous $20 million funding round from investors including OpenAI CEO Sam Altman and Google’s AI-focused fund Gradient Ventures. Meanwhile secured a digital life insurer license in Bermuda last year and plans to target regions where inflation and currency instability are significant concerns.
“This round gives us significant capital to power our journey of building the world’s largest long-term insurance and savings company,” said Zac Townsend, Meanwhile’s co-founder and CEO. The company did not disclose its current valuation or specific market entry plans in the announcement.
The development highlights the growing intersection of cryptocurrency and traditional financial products, as companies seek to create innovative solutions for managing risk in volatile economic environments.
