The new funding round was led by Framework Ventures and Fulgur Ventures. Notable figures such as Wences Casares, founder of the crypto bank Xapo, also participated in the round.

Doubled Its 2022 Valuation

According to Fortune, Meanwhile has reached a valuation of $190 million with this funding round. This figure nearly doubles the startup’s 2022 valuation. Meanwhile had previously raised $20.5 million in seed funding from investors including OpenAI CEO Sam Altman.

The company’s co-founder and CEO Zac Townsend stated that the new funds would be used for geographic expansion, regulatory compliance, and new product development.

BTC Era in Life Insurance: Payment and Coverage Only in Bitcoin

Meanwhile Insurance stands out as a life insurance product launched in the U.S. in 2023. While the system functions similarly to traditional insurance, its unique feature is that all payments and coverage are made exclusively in Bitcoin (BTC).

Insured users pay monthly premiums in BTC from their wallets, and in the event of death, their families receive the coverage amount in BTC as well. The company’s goal is to minimize inflation risk and benefit from BTC’s long-term returns.

Meanwhile also lends users’ BTC to large financial institutions to generate income. Through this method, it aims to cover operating expenses and make customer payouts. The company targets a 3% return from these loans.

BTC-Based Private Fund Aims for Conservative Returns

In December 2023, Meanwhile Group announced the launch of a BTC-based private credit fund through its investment arm, Meanwhile Advisors. The goal of this fund is to offer conservative returns in BTC and generate income by lending BTC to institutional counterparties.

The fund aims to deliver an annual BTC return of 5%. In this way, a stable BTC-based financial structure is intended to be established for both investors and company users.

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