BCGAME - Free 5BTC Daily Bonus!- Meanwhile raises $82 million in new round
- Life insurance policies are fully denominated in Bitcoin
- Company aims for expansion into Asia and new institutional partnerships
Meanwhile, a life insurance company with Bitcoin-denominated products, announced the raising of US$82 million in a new funding round aimed at expanding its operations globally. The investment was co-led by Haun Ventures and Bain Capital Crypto, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark.
The new round comes just six months after the company closed a $40 million Series A. According to CEO Zac Townsend, the new funding was anticipated by Bain and Haun, who approached the company in July.
“The round was structured in an unconventional way, allowing investors to convert their stake into equity or Bitcoin, depending on the company’s future performance,”
explained Townsend.
With this new investment, Meanwhile's total capital raised reaches $143 million, significantly raising its valuation above the $190 million raised after its Series A. A portion of the dollar amount raised will be used to purchase Bitcoin and strengthen the company's balance sheet, solidifying its crypto-backed capital base.
Meanwhile's flagship product is a fully Bitcoin-backed life insurance policy, in which premiums, values, and claims are all settled in BTC. The minimum coverage is 0,25 BTC and the maximum is 50 BTC, currently available to clients in the United States and Canada. Payments are made in annual installments over a ten-year period.
Townsend stated that the company already has hundreds of policyholders and that Bitcoin assets under management have grown more than 200% year-over-year, from about 220 BTC to over 660 BTC. This growth, he said, reflects business expansion, not asset appreciation.
The company plans to expand its operations to Hong Kong, Dubai, and Singapore by 2026, in addition to partnering with traditional insurers to integrate Bitcoin into savings and annuity products. With 19 employees, Meanwhile continues to hire engineers and technology professionals, while investors such as Bain, Haun, and Pantera have taken seats as observers on the board.
