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2 clusters · 10 sources · 3 days · First seen · Last updated

Meanwhile Inc. Bitcoin insurance funding

Overview

Meanwhile Inc., a Bermuda-regulated life insurance company operating exclusively with Bitcoin, has raised $37.5 million in a financing round led by Bain Capital Crypto. This investment brings the company’s total funding to over $180 million. Other participants and backers include Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, Morgan Creek Digital, and OpenAI CEO Sam Altman.

The company utilizes its ‘Class IILT’ license from the Bermuda Monetary Authority to maintain its entire balance sheet, reserves, and audited financial statements in Bitcoin. Its primary offering, the ‘BTC Life 1-Pay’ product, allows high-net-worth individuals outside the United States to pay a single Bitcoin premium for lifetime coverage with death benefits denominated in BTC.

CEO and co-founder Zac Townsend noted that the company provides a regulated mechanism for wealthy Bitcoin holders to transfer assets to the next generation. The company reports that long-term subscription net income has already exceeded the previous year's total and is projected to double this year.

Entities

Bain Capital Crypto · Sam Altman · Meanwhile Insurance Bitcoin (Bermuda) Limited · Zac Townsend · Apollo

Timeline

  1. [BUSINESS] 2 sources
    Meanwhile raises $37.5 million for Bitcoin-only insurance

    Bitcoin-only insurer Meanwhile raised $37.5 million in a round led by Bain Capital Crypto, bringing total funding to over $180 million. The Bermuda-licensed firm manages all reserves and premiums in BTC.

  2. [BUSINESS] 8 sources
    Meanwhile Inc. raises $37.5 million for Bitcoin life insurance

    Bermuda-based Meanwhile Inc. raised $37.5 million in a round led by Bain Capital Crypto to expand its Bitcoin-denominated life insurance services globally.

Sources

blockchainreporter.net · coindeskjapan.com · crypto-news-flash.com · cryptobreaking.com · decrypt.co · it-boltwise.de · merca2.es · news.trijo.co · pulse2.com · tokenpost.com