Sam Altman-Backed Bitcoin Life Insurer Meanwhile Raises $37.5 Million
Summary
- Meanwhile said it raised an additional $37.5 million from existing investors, bringing its cumulative funding to more than $180 million.
- The company said the round was led by Bain Capital Crypto, with participation from Pantera Capital and Morgan Creek Digital, among others.
- Meanwhile said it launched BTC life insurance product 'BTC Life 1-Pay' for high-net-worth individuals in response to rising demand.
Forecast Trend Report by Period
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 raised an additional $37.5 million from existing investors. That brings the company’s total funding to more than $180 million.
The round was led by Bain Capital Crypto, with participation from Hiventures, 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 benefits in Bitcoin. The company said demand for Bitcoin life insurance has been increasing among high-net-worth individuals in Asia, Europe and the Middle East amid growing macroeconomic uncertainty.
Co-founder and CEO Zac Townsend said wealthy individuals around the world already hold Bitcoin, but regulated ways to pass those holdings to the next generation have been limited. The new funding will help Meanwhile meet rising client demand, he added.
Earlier this year, Meanwhile launched its lump-sum whole life insurance product, BTC Life 1-Pay, for high-net-worth individuals outside the US.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.