Sam Altman-Backed Bitcoin Insurer Meanwhile Raises $37.5 Million
Summary
- Meanwhile said it raised an additional $37.5 million from existing investors, bringing its total funding to more than $180 million.
- The round was led by Bain Capital Crypto and included major investors such as Pantera Capital and Apollo.
- Meanwhile said it offers products including Bitcoin life insurance and BTC Life 1-Pay to meet rising demand for Bitcoin inheritance solutions among wealthy individuals worldwide.
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Meanwhile, a Bitcoin life insurer backed by OpenAI Chief Executive Officer Sam Altman, has raised fresh funding.
Cointelegraph reported on October 10 that Meanwhile had secured an additional $37.5 million from existing investors. The latest round brings the company’s total funding to more than $180 million.
The round was led by Bain Capital Crypto, with participation from Hohn Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital.
Meanwhile offers life insurance products that allow customers to pay premiums and receive payouts in Bitcoin. The company said demand for Bitcoin life insurance has been rising among high-net-worth individuals in Asia, Europe and the Middle East amid growing macroeconomic uncertainty.
Jack Townsend, Meanwhile’s co-founder and CEO, said wealthy individuals around the world already hold Bitcoin but have lacked a regulated way to pass those holdings on to the next generation. The new funding will help the company meet rising customer demand, he added.
Earlier this year, Meanwhile launched BTC Life 1-Pay, a whole life insurance product that allows high-net-worth individuals outside the US to pay a single upfront premium.
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