Meanwhile, a bitcoin-centric life insurance company backed by Sam Altman, has successfully raised $37.5 million in a funding round spearheaded by Bain Capital Crypto, bringing its overall funding to $180 million.
This Bermuda-based firm specializes in life insurance policies that are denominated in bitcoin, including a unique offering that allows clients to pay a single premium in bitcoin. The recent funding will support its growth beyond the U.S. market.
Expansion into New Markets
Meanwhile has partnered with 15 brokers catering to high-net-worth individuals in regions such as Switzerland, Singapore, Hong Kong, and the United Arab Emirates.
The latest investment round also saw contributions from notable firms such as Haun Ventures, Framework Ventures, Pantera Capital, and Apollo. This follows a previous funding round in which Meanwhile raised $82 million last year.
By offering life insurance products with premiums and benefits in bitcoin, Meanwhile aims to incorporate cryptocurrency into traditional wealth management, moving beyond mere trading and investment to areas like inheritance and insurance.
A highlight of their offerings is the BTC Life 1-Pay product, launched earlier this year, which provides clients with the option to pay a one-time premium of one bitcoin for a guaranteed death benefit also in bitcoin.
Having obtained an insurance license from the Bermuda Monetary Authority in 2024, Meanwhile is now well-positioned to serve affluent clients across its newly targeted markets.