Meanwhile raises $37.5 million at a reported $350 million valuation

Meanwhile announced $37.5 million in financing on October 8. The bitcoin life insurer, whose backers include Sam Altman, reportedly secured a $350 million valuation. That valuation was not disclosed in its announcement.

Bain Capital Crypto led the investment from existing shareholders. Participants included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. Meanwhile said its cumulative funding now exceeds $180 million.

The Bermuda insurer introduced BTC Life 1-Pay earlier this year for wealthy customers outside the United States. Customers make a single bitcoin payment for lifetime coverage with a death benefit paid in bitcoin. Its other product, BTC 10-Pay, targets US taxpayers.

Meanwhile said the financing will support growing international demand, particularly from Asia, Europe and the Middle East. It has signed 15 broker partners serving wealthy families, including businesses operating in Singapore, Hong Kong, the United Arab Emirates and Switzerland. CEO Zac Townsend said the investment would help the company meet demand from those intermediaries.