Meanwhile Inc. raises $37.5 million for Bitcoin life insurance

Meanwhile Inc., a Bermuda-regulated Bitcoin life insurer, has raised $37.5 million in a financing round led by Bain Capital Crypto. This latest investment brings the company’s total funding to over $180 million.

Participants in the round included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. OpenAI CEO Sam Altman is also among the company’s backers.

The company is utilizing the capital to expand its international distribution, specifically targeting wealthy cryptocurrency holders in Asia, Europe, and the Middle East through insurance and wealth-management brokers.

Meanwhile’s primary offering, the BTC Life 1-Pay product, allows customers to pay a single Bitcoin premium to receive lifetime coverage where both the policy value and the death benefit are denominated in BTC rather than traditional fiat currencies.