Bitcoin insurer Meanwhile raises $37.5M at $350M valuation, backed by Sam Altman
What's the deal? Meanwhile, a company offering life insurance denominated in bitcoin, has raised $37.5 million in a late-stage round at a $350 million valuation, chief executive officer Zac Townsend told Axios. Sam Altman is among its backers.
What's the endgame? Meanwhile sells life insurance in bitcoin, giving customers exposure to the cryptocurrency's gains. Policies denominated in bitcoin let holders access part of those gains without a hefty capital gains tax.
How big is the raise? The $37.5 million round sits in the upper tier of funding deals, landing in roughly the 32nd percentile by size — larger than most but short of the megarounds now common in crypto and fintech.
The signal: Pairing insurance with bitcoin ties a traditionally conservative product to a volatile asset. With a marquee backer in Altman and a $350 million valuation, Meanwhile is betting that demand for crypto-native financial products extends beyond trading into long-term planning.
Read more: Axios
Image credit: Meanwhile
