Meanwhile raises 82 million dollars in new funding…expands Bitcoin insurance products

Bitcoin (BTC)-based life insurer Meanwhile has raised 82 million dollars in new funding to expand its global business. The investment is seen as a sign of the Bitcoin insurance market's potential to spread into the mainstream.

On the 7th (local time), Bloomberg reported that Meanwhile raised 82 million dollars in new funding. The round was co-led by Haun Ventures and Bain Capital Crypto, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, Stillmark, and others. Meanwhile plans to use the funds to expand the overseas market for its core product, Bitcoin-denominated life insurance.

Zac Townsend, Meanwhile's chief executive officer (CEO), said, "The investment was mainly done in the form of dollar funding to purchase Bitcoin and strengthen the capital base," and added, "The investment stake will be converted into equity or Bitcoin depending on the company's future performance." He did not disclose the specific post-investment valuation, but added, "It far exceeded the 190 million dollars valuation at the time of the Series A round."

Meanwhile operates Bitcoin-denominated life insurance products in the United States and Canada. All premiums, reserves, and payouts are calculated in BTC, with a minimum subscription threshold of 0.25 BTC and a maximum of 50 BTC.