Crypto startup Meanwhile has raised $40 million to scale its Bitcoin-denominated life insurance business, targeting so-called “inflation-prone economies” where policyholders may seek alternatives to traditional fiat-based payouts.
The Series A investment round was led by Framework Ventures and Fulgur Ventures, with additional participation from Xapo founder Wences Casares, the company disclosed on April 10.
Meanwhile previously secured $20.5 million in seed funding backed by OpenAI CEO Sam Altman and others.
Source: Meanwhilelife
Regulated by the Bermuda Monetary Authority, Meanwhile offers a whole life insurance policy denominated in Bitcoin (BTC), giving policyholders the ability to safeguard the value of their life insurance against currency debasement.
Policyholders can access the value of their life insurance anytime through loans and tax-free partial withdrawals.
Meanwhile co-founder Zac Townsend told Fortune that the company’s life insurance policies operate similarly to typical life insurance policies, but