Meanwhile raises $37.5 million in Bain-led round

Bitcoin life insurer Meanwhile said on Oct. 8 it raised $37.5 million from existing investors, led by Bain Capital Crypto, to expand its business serving clients outside the United States.

• New funding: $37.5 million
• Total raised: more than $180 million
• Brokers signed since launch: 15
• Bermuda insurance license received: July 2024

The company announced the round in a press release. CoinDesk’s report also confirmed the raise and named Bain Capital Crypto as lead investor.

Who joined Bain Capital Crypto in the round?

Meanwhile said Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital also took part. All were existing investors, the company said.

The round brings Meanwhile’s total funding to more than $180 million, according to the company. Sam Altman is among its backers; the company did not say how much of this round each investor contributed.

Meanwhile is based in Bermuda and describes itself as the first life insurer licensed to operate entirely in Bitcoin. CoinDesk reported that the company had raised $82 million in a round the previous year.

How does Meanwhile’s Bitcoin life insurance work?

Its BTC Life 1-Pay policy lets a customer pay one premium in Bitcoin in exchange for a guaranteed death benefit paid in Bitcoin. The company launched the product in early 2026 for high-net-worth clients outside the US.

Meanwhile said the policy’s value grows in Bitcoin. After the first year, the owner can borrow up to 90% of that value, with no repayment schedule or margin calls, according to the company.

The product followed BTC 10-Pay, which Meanwhile says is designed for US taxpayers. Policies can be held by individuals, trusts or companies, the release said, a structure the company presents as useful for estate and succession planning.

Where is Meanwhile expanding, and what backs its claims?

The company said it has signed 15 brokers serving wealthy families, including in Singapore, Hong Kong, the United Arab Emirates and Switzerland. It said demand for its policies in Asia, Europe and the Middle East helped drive the funding round.

Meanwhile also reported that its net long-term underwriting income had already exceeded the previous year’s total and was on track to more than double in 2026. Those are company figures; the release did not provide the underlying amounts.

Meanwhile Insurance Bitcoin (Bermuda) Limited received a Class IILT license from the Bermuda Monetary Authority in July 2024, after two years in the regulator’s sandbox, the company said. It says its balance sheet, reserves and audited financial statements are denominated in Bitcoin, and that policyholder Bitcoin is held by regulated institutional custodians.

Sources and documents

• press release — meanwhile.bm
• CoinDesk’s report — coindesk.com