Sam Altman-backed Bitcoin-native life insurer raises $37.5M from Bain Capital Crypto.
VC & Fundraising ·
A Bermuda-licensed life insurer that operates using Bitcoin as its primary asset denomination closed a $37.5 million funding round led by Bain Capital Crypto, bringing cumulative capital raised to over $180 million. The company, which received regulatory approval from Bermuda authorities in July 2024, experienced elevated demand internationally following the launch of a single-premium whole life policy targeting high-net-worth individuals outside the United States. The policy allows clients to pay once in Bitcoin and receive guaranteed death benefits in the same cryptocurrency, with borrowing capacity of up to 90 percent of policy value available after year one.