Meanwhile Insurance Raises $37.5M to Expand Bitcoin Life Coverage Globally
Bitcoin life insurer closes new funding round
Meanwhile, a Bermuda‑regulated startup that runs a life insurance business entirely in Bitcoin, has raised $37.5 million from existing investors. The latest round brings the company’s total funding to more than $180 million.
The investment was led by Bain Capital Crypto and includes participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, Morgan Creek Digital, and Sam Altman.
Key details of the raise
- The company said demand for its Bitcoin life insurance policies has surged outside the United States, especially in Asia, Europe, and the Middle East, as macroeconomic uncertainty grows.
- Meanwhile’s product, called BTC Life 1‑Pay, is a single‑premium whole‑life policy aimed at high‑net‑worth clients outside the US. It allows a client to pay one premium in Bitcoin and receive a guaranteed death benefit in Bitcoin for life.
- After the first year, policy owners can borrow up to 90% of the policy’s Bitcoin value with no repayment schedule and no margin calls.
- Since launching the product in early 2026, Meanwhile has signed 15 brokers serving wealthy families in Singapore, Hong Kong, the UAE, and Switzerland.
- The company’s net long‑term underwriting income has already exceeded last year’s total and is on track to more than double in 2026, though no specific figures were disclosed.
- Meanwhile holds the first Class IILT (Insurance Linked Token) license granted by the Bermuda Monetary Authority, which it received in July 2024 after two years in the regulator’s sandbox.
- All of the insurer’s balance sheet, reserves, and audited financial statements are denominated in Bitcoin, and policyholder Bitcoin is held with regulated institutional custodians.
What the company says
“Wealthy families around the world already hold Bitcoin. What they haven’t had is a regulated way to pass it on,” said Zac Townsend, Meanwhile’s co‑founder and CEO. “Brokers came to us because their clients kept asking. This round lets us keep up with them.”
Investor and partner perspectives
Stefan Cohen, partner at Bain Capital Crypto, called the raise a sign that “the model” works. “Meanwhile owns every layer of a regulated life insurer and builds it like an AI‑enabled startup,” Cohen said. “The growth this year proves the model, and we’re glad to back them again.”
Justin Man, CEO of Apeiron Group—a marketplace for high‑net‑worth life insurance—said the funding reflects a broader shift. “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,” Man said.
Confirmed facts
The $37.5 million raise, the lead investor (Bain Capital Crypto), the list of participating investors, the product name (BTC Life 1‑Pay), the licensing status (first Class IILT license from the Bermuda Monetary Authority), and the fact that net underwriting income has surpassed last year’s total are all directly reported by the company and corroborated by multiple investor quotes.
Still unclear
The exact amount of net long‑term underwriting income and specific growth targets for 2026 were not disclosed. The company also did not detail whether it plans to expand into additional regions beyond Asia, Europe, and the Middle East or introduce new products in the near term.
Why this matters for crypto insurance
The funding highlights growing interest among wealthy families outside the US for regulated, Bitcoin‑based estate‑planning tools. By denominating its financial statements in Bitcoin and obtaining a dedicated insurance license in Bermuda, Meanwhile is testing whether a fully Bitcoin‑operated insurer can scale globally—a model that could influence how traditional life‑insurance products adapt to digital assets.
Next steps
The company has not announced a specific timeline for future fundraising rounds or new product launches. It said the capital will be used to meet rising demand from brokers and their clients.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.