A startup that handles life insurance entirely in Bitcoin just got a huge boost. After a successful fundraising round, the company, Meanwhile, is now valued at a whopping $190 million.
$40 Million Funding Round
Meanwhile raised $40 million in its Series A funding round. This investment round included participation from Bitcoin-focused bank Xapo and prominent Silicon Valley investor Wences Casares. This brings the company’s total valuation to almost $200 million, doubling its worth since its last funding round in 2022.
Bitcoin: A Hedge Against Inflation?
Meanwhile’s CEO, Zach Townsend, explained their decision to operate solely in Bitcoin. He argues that Bitcoin offers a better long-term hedge against inflation compared to traditional currencies. He believes that using Bitcoin to secure the future financial well-being of loved ones is appealing to many. The company invests the Bitcoin it receives from policyholders to ensure it can meet its payout obligations.
How it Works
The company’s entire operation is conducted in Bitcoin. Policyholders pay premiums in BTC, and beneficiaries receive payouts in BTC as well.
