A significant $40 million Series A investment has been secured by meanwhile, a life insurance provider operating under Bermuda Monetary Authority regulation that uniquely denominates its policies in Bitcoin.
Known for its innovative Bitcoin (BTC) denominated Whole Life Insurance, meanwhile confirmed the funding round was spearheaded by venture capital players fulgur.ventures and Framework Ventures.
Fulgur.ventures concentrates on BTC investments, whereas Framework Ventures backs numerous DeFi and crypto-native initiatives. Noteworthy Bitcoin figure Wences Casares, co-founder of Xapo Bank, also participated in the round.
Established three years prior, the firm plans to deploy the fresh capital to expand its global reach for BTC-based life insurance and annuity products. The goal is to serve millions seeking protection from diverse financial risks.
The company emphasized its mission: “Everyone deserves access to financial products that maintain their value over time—especially for long-term planning and family protection. This funding empowers us to reach more people who are concerned about political risk, currency risk, inflation risk, or regime risk.”
This novel insurance model offers distinct advantages over traditional finance, such as hedging against currency devaluation, potential tax benefits, and accessible liquidity.
Founder Zac Townsend highlighted the operational challenge: “One impossible task was creating a globally unique life insurer entirely denominated in Bitcoin. We accept premiums, pay claims, and conduct our audited financials, reserves, and solvency calculations entirely in Bitcoin.”
For dedicated Bitcoin holders, these policies offer more than just wealth preservation; they provide exposure to Bitcoin’s long-term growth potential.
This follows a successful $20.5 million seed round that saw investment from prominent figures like OpenAI’s Sam Altman and Bitwise’s Hunter Horsley.