Bitcoin Life Insurer Meanwhile Raises $37.5M as Crypto Wealth Products Gain Traction

Meanwhile, a licensed life insurer operating entirely in bitcoin, has raised $37.5 million from existing investors in a round led by Bain Capital Crypto, signaling growing institutional appetite for crypto-native wealth management products.

The Bermuda-based company, whose backers include OpenAI CEO Sam Altman, has now raised more than $180 million in total, it said Thursday. Participating in the round alongside Bain Capital Crypto were Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital.

The new funding follows an $82 million round in October 2025 co-led by Bain Capital Crypto and Haun Ventures, and a $40 million Series A in April 2025, according to The Block, which reported on the company's audited financials. Meanwhile held 1,183 BTC in total assets at the end of 2025, up more than fivefold from a year earlier, and reported 759 BTC in statutory capital and surplus.

**Products for High-Net-Worth Clients**

Meanwhile offers life insurance policies with premiums and death benefits denominated in bitcoin rather than traditional currencies. In early 2026, it launched BTC Life 1-Pay, a single-premium whole life policy for high-net-worth clients outside the United States. The product requires a one-time premium paid in bitcoin and provides a guaranteed death benefit in the cryptocurrency. Policyholders can borrow up to 90% of the policy's value after the first year, with no repayment schedule or margin calls, according to The Block.

The company's earlier BTC 10-Pay product was designed for U.S. taxpayers. Policies can be owned by individuals, trusts or companies, making them suitable for succession and estate planning.

**International Expansion**

The fundraising round comes as Meanwhile expands its broker network outside the U.S. The company said it has signed 15 brokers serving wealthy families since launching BTC Life 1-Pay, including in Singapore, Hong Kong, the United Arab Emirates, and Switzerland.

Its partners include Lioner, an insurance and wealth management group with offices in Hong Kong, Singapore, and Zurich, and Apeiron Group, which operates a marketplace for high-net-worth life insurance. Lioner Partner Giorgio Jeni said high-net-worth individuals are thinking more broadly about managing wealth for the future. Apeiron Group CEO Justin Man added that more clients are asking how to plan around and transfer digital wealth to the next generation, as reported by The Block.

“Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” Meanwhile co-founder and CEO Zac Townsend said in a statement. “Brokers came to us because their clients kept asking. This round lets us keep up with them.”

**Underwriting Momentum**

The company said its net long-term underwriting income has already exceeded the total recorded last year and is on track to more than double in 2026. It did not disclose absolute figures.

Bain Capital Crypto Partner Stefan Cohen described Meanwhile's model as owning every layer of a regulated life insurer while building like an AI-enabled startup. “The growth this year proves the model,” Cohen said in a statement, as reported by The Block.

**Regulatory Foundation**

Meanwhile received its Class IILT insurance license from the Bermuda Monetary Authority in July 2024, following two years in the regulator's sandbox. The company keeps its balance sheet, reserves, and audited financial statements denominated in bitcoin, while regulated institutional custodians hold policyholder funds.

The raise and product expansion underscore a broader trend of crypto-native financial services moving into traditional wealth management, as bitcoin increasingly becomes a vehicle not just for investment and trading but for inheritance and estate planning.