Crypto startup Meanwhile has successfully secured $40 million in a Series A funding round aimed at scaling its life insurance offering, which is denominated in Bitcoin (BTC).
The funding round was spearheaded by Framework Ventures and Fulgur Ventures, with additional participation from notable figures including Wences Casares, the founder of crypto bank Xapo, as reported via the company’s official Twitter account.
The newly acquired funds will be utilized for geographical expansion and the development of new product lines, as the team looks to enhance its operations on a global scale.
Our mission:
Bring financial security to a billion people worldwide.
— meanwhile (@meanwhilelife) April 10, 2025
Zac Townsend, the co-founder and CEO, emphasized that part of the funding will ensure that their offerings comply with regulations across different jurisdictions as they grow.
According to Fortune, this funding round places a valuation of $190 million on Meanwhile, nearly double its worth following the previous funding round in 2022.
In earlier funding efforts, the company raised $20.5 million in a seed round, backed by an array of investors that included OpenAI CEO Sam Altman, as well as Parker Conrad, Hunter Horsley, Michael Sidgmore, Laura Spiekerman, Lauren Kolodny, and Sam Blond, among others.
Meanwhile operates out of Bermuda and is regulated by the Bermuda Monetary Authority.
‘Bitcoin is Very Attractive’ Says Life Insurance Startup CEO
Townsend shared with Fortune that while Bitcoin can exhibit volatility in the short term, it has consistently delivered substantial returns in the long term.
As of now, Bitcoin is trading at $84,554, with no significant changes from the previous day or month. Over the past week, the cryptocurrency has seen a 13% increase, and a 31% rise over the past year. It reached an all-time high of $108,786 in January 2025 but has since experienced a 22% decrease.
In December 2023, Finance Newso reported that Meanwhile Group, backed by Gradient Ventures, introduced a new private credit fund denominated in BTC, which aimed to offer investors a “conservative” yield while lending funds in BTC to institutional counterparts.
The company stated that Meanwhile Advisors, a subsidiary, sought a 5% yield from the Meanwhile BTC Private Credit Fund.
Earlier in 2023, Meanwhile launched its insurance offering for U.S. customers, allowing them to pay premiums and receive benefits exclusively in Bitcoin. This innovative approach aims to reduce inflation risk and enhance returns.
The insurance model mirrors traditional life insurance, wherein policyholders mak monthly premiums in BTC directly from their crypto wallets, with beneficiaries receiving Bitcoin upon the policyholder’s passing.
Meanwhile also generates revenue by lending clients’ BTC to major financial institutions, including crypto exchanges and market makers, with expected returns of 3% from these loans, which will help pay clients and fund operational expenses.
Our first product, Bitcoin-denominated Whole Life Insurance, provides what traditional financial products cannot:
protection from currency debasement while offering guaranteed payouts
tax advantages
access to liquidity when needed
For Bitcoin holders, our policies…
— meanwhile (@meanwhilelife) April 10, 2025
Townsend articulated to Fortune that life insurance is a fundamental component of a stable society, as it delivers essential financial protection for families of policyholders.
“It may feel like the dollar is not as reliable a store of value as it once was,” Townsend noted. “Thus, the concept of securing some value for your children in a global, censorship-resistant, decentralized currency like Bitcoin is highly appealing.”
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