A life insurance startup denominated in Bitcoin and regulated by the Bermuda Monetary Authority has successfully secured $40 million in a Series A funding round.
Offering an innovative product in the form of Bitcoin (BTC) Whole Life Insurance, the company announced that this funding round was co-led by venture capital firms fulgur.ventures and Framework Ventures.
Fulgur.ventures specializes in Bitcoin-focused investments, while Framework Ventures is renowned for its support of decentralized finance and crypto-oriented funds. The startup also received backing from Wences Casares, a notable figure in the Bitcoin space and co-founder of Xapo Bank, which supports Bitcoin as well.
Founded three years ago, the company plans to channel this new capital towards expanding its BTC-denominated life insurance and annuity offerings on a global scale. Its goal is to provide insurance products to millions, designed to safeguard against various forms of risk.
“Everyone deserves access to financial tools that keep their value over the long term—particularly for family protection and future planning. This funding allows us to reach more individuals concerned about political, currency, inflation, and regime risks,” the company shared on X.
The insurance product denominated in Bitcoin offers advantages not typically found in conventional financial services. It includes safeguards against currency devaluation, tax benefits, and on-demand liquidity.
“One of our greatest challenges was to establish a global life insurance entity entirely based in Bitcoin,” stated Zac Townsend, the founder of the company. “We accept premiums, process claims, and manage our audited finances, reserves, and solvency calculations fully in Bitcoin.”
For those holding Bitcoin, the insurance policies not only ensure wealth preservation for future generations but also provide opportunities for exposure to Bitcoin’s long-term value growth.
Previously, the company secured $20.5 million in a seed funding round, which garnered support from prominent figures such as OpenAI CEO Sam Altman and Bitwise CEO Hunter Horsley, among others.