Meanwhile Announces $40 Million Series A Funding Round
Meanwhile, a financial technology company based in Bermuda, recently announced that it has successfully completed a $40 million Series A financing round led by renowned blockchain investment firms Framework Ventures and Fulgur Ventures. Meanwhile stated that this funding will help the company accelerate the global promotion of its Bitcoin-denominated life insurance and annuity products, aiming to provide financial protection against inflation and currency risk for one billion people worldwide.
(Background: Ark Invest: Argentina’s “Bitcoin Adoption Rate” Surpasses El Salvador)
(Additional Background: Czech Central Bank Considering Adding Bitcoin to Foreign Exchange Reserves, Bitwise CEO: Dominoes Have Already Fallen)
Funding Announcement
Meanwhile, a financial technology company headquartered in Bermuda, announced on April 10 via the social platform X that it has successfully completed a $40 million Series A financing round. This financing was co-led by the well-known blockchain investment firms Framework Ventures and Fulgur Ventures, with participation from Bitcoin pioneer and former Xapo CEO Wences Casares.
Meanwhile stated that this funding will help the company accelerate the global rollout of BTC-denominated life insurance and annuities, protecting users from inflation and currency risk.
We’re proud to announce our $40M Series A led by @hiFramework & @FulgurVentures, with participation from Bitcoin pioneer Wences Casares. This capital accelerates our global rollout of BTC-denominated life insurance & annuities, protecting users from inflation & currency risk ⤵️pic.twitter.com/kTMxDaDBeh — meanwhile (@meanwhilelife) April 10, 2025
What is Meanwhile?
Meanwhile is an innovative fintech company founded in 2022 and headquartered in Bermuda, co-founded by Zac Townsend (CEO) and Max Gasner. The company positions itself as the world’s first life insurance company denominated in Bitcoin (BTC), focusing on providing wealth management and insurance solutions for long-term Bitcoin investors (HODLers). Currently, Meanwhile is regulated by the Bermuda Monetary Authority to ensure its operations comply with international financial standards and utilizes artificial intelligence (AI) technology to enhance the efficiency and transparency of insurance processes.
Core Business: BTC Whole Life Insurance
The core product of Meanwhile is BTC-denominated whole life insurance, designed for clients who are optimistic about the long-term value of Bitcoin. The product features the following:
- Completely Bitcoin-denominated: Premium payments and claims are made in Bitcoin, without the need for fiat currency (unless clients choose to exchange).
- Guaranteed Payout: Ensures policyholders receive the agreed Bitcoin return upon maturity or death.
- Tax Advantages: Leverages Bermuda’s tax-friendly environment to help clients reduce tax burdens during wealth transfer.
- Liquidity Support: Clients can borrow against their policies without selling Bitcoin to access funds, similar to traditional whole life insurance cash value functions.
- Inflation Hedge: Using Bitcoin as the unit of account helps clients hedge against the devaluation risk of fiat currencies.
Application Process and Considerations
Application Process: Clients can apply online through the Meanwhile official website. The site provides a simple application entry point where clients need to fill in basic information and submit it. The AI system will complete risk assessment and review in a short time.
Payment Method: Premiums must be paid directly in Bitcoin, and clients need to ensure they have sufficient Bitcoin balance in their wallets. However, the company also provides fiat currency exchange options, which may involve additional fees.
Considerations: 1) Clients must confirm their eligibility before applying, especially whether their region is within Meanwhile’s service area (currently focused on the U.S., Europe, and Asia); 2) Due to the significant price volatility of Bitcoin, clients should understand that the policy value may fluctuate with Bitcoin price changes.
Funding Status
So far, Meanwhile has completed two rounds of financing, raising approximately $59 million, with the specific financing details as follows:
- 2023 Seed Round: Raised $19 million with investors including Gradient Ventures (under Google), Mouro Capital, MS&AD Ventures, and OpenAI founder Sam Altman, along with former Stripe executive Lachy Groom.
- 2025 Series A: Raised $40 million, led by Framework Ventures and Fulgur Ventures, with Wences Casares participating.
Valuation: After the Series A financing, the company’s valuation reached $190 million.
Global Bitcoin Adoption on the Rise
Currently, Bitcoin has facilitated financial inclusion, allowing populations without access to traditional banking systems to participate in the global economy and achieve efficient cross-border payments, reducing transaction costs. Bitcoin has clearly transcended its role as a store of value, and the trend of its adoption across various industries is steadily increasing. According to a report by Doubloin, in addition to the Bitcoin-denominated insurance pioneered by Meanwhile, other traditional industries are also actively adopting Bitcoin, such as:
- Payments and Retail: For example, U.S. chain restaurant Subway and some Starbucks locations have begun accepting Bitcoin payments, allowing consumers to purchase goods directly with Bitcoin through partnerships with payment platforms like BitPay.
- Real Estate: In places like Dubai, real estate developers have started accepting Bitcoin as payment for properties, attracting international investors. For instance, Dubai’s Emaar Properties has announced that it accepts Bitcoin for high-end properties.
- Travel and Aviation: Travel platforms such as Expedia and airline Norwegian Air allow customers to book flights and hotels using Bitcoin, showcasing the potential applications of Bitcoin in the travel industry.
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