Meanwhile Secures $40 Million in Largest Equity Investment by Framework Ventures
Meanwhile, a bitcoin life insurance company, raised $40 million in funding co-led by Framework Ventures and Fulgur Ventures. This marks the largest equity investment ever made by Framework Ventures.
The company is valued at $190 million following its Series A announcement and currently operates with a team of 10 employees. Meanwhile's technology is self-developed.
Key points include:
- Plans to create a US-based subsidiary for broader access to Bitcoin products.
- Current operations are licensed in Bermuda, allowing service provision in the US, UK, and Canada.
- Future product launch: a Bitcoin annuity with potential tax advantages.
- Whole life product allows policyholders to borrow Bitcoin against their policies.
- Target markets include countries like Argentina, Nigeria, and Turkey, where traditional insurance faces challenges.
CEO Zachary Townsend emphasized the appeal of decentralized value storage amid global financial instability.