Meanwhile has raised $37.5 million to grow its Bitcoin-denominated life insurance business. The company is betting that wealthy Bitcoin holders want more options for passing on their assets. It has not said how many policies it has sold, so the scale of customer demand remains unclear.
- $37.5 million raised in a round led by Bain Capital Crypto.
- Meanwhile says its total funding exceeds $180 million.
- Its international BTC Life 1-Pay policy offers a death benefit denominated in Bitcoin.
- The company says it has signed 15 brokers, but has not disclosed policy sales or premium totals.
Fresh capital for international distribution
Meanwhile announced the round on October 8. The announcement did not give the year, though it discussed the company’s 2026 performance. Bain Capital Crypto led the investment, with participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital.
Meanwhile says the financing brings its total capital raised to more than $180 million. Its identified earlier rounds include a $40 million Series A completed in April 2025, backed by Framework Ventures and Fulgur Ventures, and an $82 million round in October 2025 co-led by Bain Capital Crypto and Haun Ventures. Together, those rounds total about $122 million, consistent with the reported amount raised during 2025.
The latest $37.5 million brings the total from those named rounds to about $159.5 million, not more than $180 million. Meanwhile has not itemized the additional capital included in its stated total.
Sam Altman, OpenAI’s chief executive, participated in Meanwhile’s initial funding. He was not named among the investors in this latest round. His earlier involvement may be notable, but it says nothing by itself about the policy terms, the insurer’s finances or its ability to pay claims.
Meanwhile says it will use the new capital to expand operations and build relationships with financial advisers and insurance intermediaries outside the United States. It is targeting wealthy clients and families looking to plan the transfer of their Bitcoin holdings.
How Meanwhile’s Bitcoin life insurance works
Introduced in early 2026, BTC Life 1-Pay is a whole life policy for wealthy customers outside the U.S. It requires a single premium in BTC and promises a death benefit denominated in Bitcoin.
A benefit guaranteed in BTC does not guarantee a fixed dollar amount. The policy may guarantee a specific number of Bitcoin under its terms, but the value in dollars will rise or fall with Bitcoin’s market price. As with any insurance promise, the contract governs, and payment depends on the insurer’s ability to meet its obligations.
Meanwhile says policyholders can borrow against the policy after the first year, up to 90% of its value, without a fixed repayment schedule or margin calls. The company has not said whether that value is measured in BTC or dollars in the information provided. It has also not detailed interest, fees, eligibility requirements or what happens if a loan goes unpaid. The policy contract, not the short product description, sets the actual conditions.
The company also offers BTC 10-Pay, designed for U.S. taxpayers, with premiums paid over ten years. Meanwhile has not provided enough detail here to compare the products’ full coverage and conditions.
Bermuda license does not mean worldwide availability
Meanwhile Insurance Bitcoin (Bermuda) Limited received a Class IILT license from the Bermuda Monetary Authority (BMA) on July 25, 2024, after spending approximately two years in the regulator’s insurance innovation sandbox. The license permits long-term insurance business with “sophisticated persons” under Bermuda’s framework. The available information does not spell out the eligibility criteria for that customer category.
The license authorizes the company to operate in Bermuda. It is not blanket approval to sell policies worldwide. Meanwhile says availability depends on local laws and distribution requirements, including the use of appropriately licensed intermediaries. Switzerland, Singapore, Hong Kong and the United Arab Emirates are among the markets connected to its broker network, but that does not mean every product is available to every customer in those countries.
Meanwhile says it has signed 15 brokers serving wealthy clients across Asia, Europe and the Middle East. Its partners include Lioner, an insurance, trust and family office services provider operating in Hong Kong, Singapore and Zurich, and Apeiron Group, a marketplace specializing in life insurance for wealthy clients.
“Brokers came to us because their clients kept asking, ” Meanwhile co-founder and CEO Zac Townsend said.
Apeiron Group CEO Justin Man said more high-net-worth clients are asking how to plan around digital assets, not just how to hold them. Broker interest may help Meanwhile reach those customers, but it does not show that the company is selling policies at scale.
What the disclosed figures show and leave open
Meanwhile says its net long-term underwriting income for 2026 has already exceeded the total recorded throughout 2025, and forecasts that the measure will more than double by year-end. The company has not disclosed the amount or explained how it calculates the measure, so the comparison cannot be independently assessed from the figures provided. The year-end increase is a forecast, not a reported result.
The company has also not disclosed how many BTC Life 1-Pay policies it has sold or the total BTC value of premiums received. It has published no revenue or valuation figures either. Those gaps make it difficult to judge the scale of its insurance business, even as it raises substantial capital and builds a broker network.
Meanwhile says its financial reserves, audited statements and balance sheet are denominated in Bitcoin, and that customer holdings are kept with regulated institutional custodians. Those details matter for a Bitcoin-native insurer, but they do not answer every policyholder question. Customers should also check the contract for exclusions, fees, surrender terms, claims procedures and the exact conditions for borrowing.
“Transparency, sound governance and strong regulation will remain important as new solutions emerge, ” Lioner partner Giorgio Jeni said.
Key questions about Meanwhile’s Bitcoin insurance
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How much did Meanwhile raise?
It announced a $37.5 million round led by Bain Capital Crypto and says its total funding exceeds $180 million. The company has not itemized the additional capital beyond the specifically identified rounds.
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Did Sam Altman invest in the latest round?
He participated in Meanwhile’s initial funding, but was not named as an investor in this round.
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What does BTC Life 1-Pay provide?
It takes a single premium in BTC and promises a death benefit denominated in BTC, subject to the policy terms and the insurer’s ability to pay. The benefit does not guarantee a fixed dollar value.
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Where is Meanwhile licensed?
Its Bermuda operating entity received a Class IILT license from the Bermuda Monetary Authority on July 25, 2024. Availability in other markets depends on local rules and distribution requirements.
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How many policies has Meanwhile sold?
The company has not disclosed policy sales or the total BTC value of premiums received.
Meanwhile is building an insurance business around Bitcoin-denominated premiums, reserves and benefits. Its funding and broker relationships show that investors and intermediaries are willing to back the effort. Disclosed policy sales would give a clearer picture of whether customers are buying in.