Meanwhile, a Bermuda-based digital asset-denominated life insurance provider, has announced the successful completion of two seed-stage funding rounds, securing a total of $19 million.
Led by prominent investors including Sam Altman, CEO of OpenAI and founder of Worldcoin, and Lachy Groom, former head of Stripe issuing, the funding will support Meanwhile’s plans to become a licensed and regulated life insurance firm by the Bermuda Monetary Authority.
The startup aims to launch its first product, bitcoin-denominated whole life insurance, leveraging the potential of cryptocurrencies and artificial intelligence.
Sam Altman and Gradient Ventures Lead the Funding:
The initial seed-stage round of funding was led by Sam Altman and Lachy Groom, bringing valuable expertise and support to Meanwhile’s ambitious venture.
Sam Altman, known for his involvement in groundbreaking projects, including OpenAI, recognized the potential of digital assets in the insurance industry. Gradient Ventures, Google’s AI fund, took the lead in the second round, contributing to the company’s overall funding.
Pioneering Crypto Denominated Life Insurance:
Meanwhile stands out in the insurance industry as the first and only provider to offer products entirely denominated in cryptocurrency. By leveraging the growing popularity and acceptance of digital assets, the startup aims to revolutionize the life insurance market and cater to the needs of the crypto community.
The recent funding will help Meanwhile accelerate its plans to offer bitcoin-denominated whole life insurance, providing a unique value proposition for long-term holders of BTC.
Expanding Global Reach:
Zac Townsend, co-founder and CEO of Meanwhile, expressed the company’s vision of becoming a global full-stack life insurance provider, leveraging the potential of Bitcoin and artificial intelligence.
By offering life insurance denominated in crypto, Meanwhile aims to reach over a billion people globally and tap into the increasing adoption of digital assets as a store of value and functional currency.
The startup’s innovative approach and forward-thinking strategies position it at the forefront of the evolving insurance industry.
