Bitcoin life insurer Meanwhile announced a $37.5 million funding round on October 9, 2026, led by Bain Capital Crypto, bringing total capital raised to $180 million. The Bermuda-based company has now closed three rounds in 18 months, following a $40 million Series A in April 2025 and an $82 million round co-led by Bain Capital Crypto and Haun Ventures in October 2025.
The round included participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. Meanwhile is backed by OpenAI CEO Sam Altman.
Stefan Cohen, a partner at Bain Capital Crypto, said in a statement: “Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup. The growth this year proves the model.”
Product expansion and broker partnerships
Meanwhile launched its BTC Life 1-Pay policy in early 2026, targeting high-net-worth clients outside the U.S. The product requires a single premium paid in bitcoin and guarantees a death benefit in cryptocurrency. The company has signed 15 brokers since the product launch, with partner operations in Singapore, Hong Kong, the UAE, and Switzerland.
Zac Townsend, Meanwhile co-founder and CEO, said: “Wealthy families around the world already hold bitcoin. What they haven’t had is a regulated way to pass it on. Brokers came to us because their clients kept asking. This round lets us keep up with them.”
Justin Man, CEO of Apeiron Group, a high-net-worth life insurance marketplace and broker partner, added: “We’re reaching a turning point where more high-net-worth clients are asking not just how to hold bitcoin and digital assets, but how to plan around them and ultimately transfer that wealth to the next generation.”
Balance sheet and regulatory standing
Meanwhile holds its balance sheet, reserves, and audited financial statements in bitcoin. The company reported 1,183 BTC in total assets at the end of 2025, up more than fivefold from the prior year. Statutory capital and surplus reached 759 BTC. Regulated institutional custodians hold all policyholder funds.
Policyholders can borrow up to 90% of policy value after the first year. Meanwhile received its Class IILT license from the Bermuda Monetary Authority in July 2024 after spending two years in the regulator’s sandbox.
Net long-term underwriting income already exceeded the total recorded in 2025 and is on track to more than double by year-end 2026. The company also developed a BTC 10-Pay product specifically for U.S. taxpayers.
