Meanwhile raises $37.5M at a $350M valuation for bitcoin-denominated life insurance

Meanwhile, the Sam Altman-backed insurer that writes life policies entirely in bitcoin, has raised $37.5 million at a $350 million valuation, CEO Zac Townsend told Axios. The round takes total funding above $180 million.

Founded in 2022 and based in Bermuda, Meanwhile holds the first Class IILT licence granted by the Bermuda Monetary Authority, received in July 2024 after two years in the regulator's sandbox. Premiums, policy values and claims are all denominated in BTC, and so are its reserves and audited accounts.

The raise comes a year after an $82 million round co-led by Haun Ventures and Bain Capital Crypto, with Pantera Capital, Apollo and Northwestern Mutual Future Ventures participating. The new capital goes to expansion across Asia, Europe and the Middle East.