Source: blockworks.co

Meanwhile Secures $40 Million in Largest Equity Investment by Framework Ventures

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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.

Original publication

Authors credited by the source: Katherine Ross

Published by Holder based on an external source.