Bain Capital Crypto leads $37.5 million funding round
Bitcoin ($BTC) life insurance company Meanwhile announced the close of a new $37.5 million funding round led by Bain Capital Crypto, with existing investors Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital also participating. OpenAI CEO Sam Altman is also one of Meanwhile's early backers.
Related news: The world's first Bitcoin life insurance company! Meanwhile reports earnings: 25 BTC in profit
After this funding round, Meanwhile’s total funding exceeded $180 million. The company closed a $40 million Series A round in April 2025, then raised another $82 million in October of the same year. The latest round builds on support from existing investors.
Meanwhile said the new funding will be used to meet rapidly growing demand in markets outside the United States, particularly among high-net-worth clients in Asia, Europe, and the Middle East.
Company co-founder and CEO Zac Townsend said that many affluent families around the world have held Bitcoin for a long time, but regulated financial instruments that allow them to use Bitcoin directly for estate and wealth transfer planning remain limited.
Premiums, claims, and reserves all denominated in Bitcoin
Meanwhile’s entire insurance business is built around Bitcoin. The company positions itself as the first life insurer authorized to operate entirely in Bitcoin. Its balance sheet, reserves, and audited financial statements are denominated in Bitcoin, while policyholder assets are held by regulated institutional custodians.
Meanwhile’s operating entity, Meanwhile Insurance Bitcoin (Bermuda) Limited, received a Class IILT license from the Bermuda Monetary Authority (BMA) in July 2024, becoming the first company to obtain this type of license. Before that, Meanwhile had operated in a regulatory sandbox for about two years.
By the end of 2025, Meanwhile had audited total assets of 1,183 Bitcoin, more than five times the previous year’s figure, including about 759 Bitcoin in statutory capital and surplus. The company also said that its year-to-date long-term underwriting net income in 2026 has already surpassed its total for 2025, and it expects this year’s figure to be more than double last year’s. However, it has not disclosed the actual income amount.
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Pay premiums in Bitcoin in a single payment; policyholders can borrow up to 90% of their policy value
Earlier this year, Meanwhile launched Bitcoin Life 1-Pay, primarily targeting high-net-worth clients outside the United States. Policyholders can pay their premiums in a single Bitcoin payment and receive lifetime insurance coverage denominated in Bitcoin, with death benefits also paid in Bitcoin.
The policy itself also accumulates cash value measured in Bitcoin. After holding the policy for one year, policyholders can borrow up to 90% of its value, with no fixed repayment deadline and no margin call mechanism of the kind commonly found in leveraged crypto lending. Policies can be owned by individuals, trusts, or companies, and Meanwhile also uses them for estate and wealth transfer planning for high-net-worth clients.
This is Meanwhile’s second major product line, following BTC 10-Pay. BTC 10-Pay is designed primarily for U.S. taxpayers, while BTC Life 1-Pay expands the market to international high-net-worth clients.
Since launching BTC Life 1-Pay, Meanwhile has signed up 15 insurance and wealth management brokerages serving affluent families, with markets spanning Singapore, Hong Kong, the UAE, and Switzerland. Partners include Lioner, which has offices in Hong Kong, Singapore, and Zurich, and Apeiron Group, a life insurance platform for high-net-worth clients.
Bitcoin Enters the Insurance and Intergenerational Wealth Transfer Markets
Meanwhile’s direction also reflects how Bitcoin financial services are expanding beyond trading, ETFs, corporate treasuries, and collateralized lending into insurance and estate planning. As high-net-worth investors hold Bitcoin for longer, needs related to death benefits, beneficiary arrangements, trust ownership, and intergenerational asset transfers are also increasing.
Traditional life insurance typically collects premiums and pays claims in fiat currency. Even when an investment portfolio holds Bitcoin or other crypto assets, the policy’s value is ultimately calculated mainly in fiat currency. Meanwhile, by contrast, denominates premiums, policy values, reserves, and death benefits entirely in Bitcoin, allowing clients who want to maintain long-term Bitcoin holdings to use their existing assets directly when purchasing coverage or planning wealth transfers.
Traditional insurers are also beginning to explore Bitcoin exposure. Last year, Delaware Life partnered with BlackRock to add Bitcoin-related exposure to a fixed indexed annuity product. Meanwhile has gone a step further by incorporating Bitcoin directly into life insurers’ balance sheets and policy structures.
Related news: First for the U.S. insurance industry! Delaware Life launches a new indexed annuity policy, the first to include BlackRock’s Bitcoin index
As Meanwhile’s total funding surpasses $180 million and it begins expanding through brokers in Asia, Europe, and the Middle East, the use of Bitcoin in the insurance and wealth transfer industries continues to grow.
“Even Sam Altman Invested! Bitcoin Life Insurer Meanwhile Raises $37.5 Million, Bringing Total Funding to Over $180 Million” was originally published on Crypto City.