Sam Altman-backed bitcoin life insurer Meanwhile raises $37.5 million
Meanwhile lands $37.5 million from Bain Capital Crypto
Meanwhile, a Bermuda-based life insurance company that operates entirely in bitcoin, has raised $37.5 million in new funding led by Bain Capital Crypto. The round brings the company's total funding to more than $180 million. Existing investors including Haun Ventures, Pantera Capital, Apollo, and Morgan Creek Digital also participated.
The company announced the round on Thursday, October 9, 2026. Sam Altman, the CEO of OpenAI, is among Meanwhile's backers. The new money follows an $82 million round in October 2025 and a $40 million Series A in April 2025.
Meanwhile operates differently from traditional insurance companies. Its balance sheet, reserves, and audited financial statements are all denominated in bitcoin, and regulated institutional custodians hold policyholder funds. The company received its Class IILT insurance license from the Bermuda Monetary Authority in July 2024 after two years in the regulator's sandbox.
Key numbers and facts
- $37.5 million raised in this round, led by Bain Capital Crypto
- Over $180 million in total funding to date
- 1,183 BTC in total assets at end of 2025, more than five times the prior year
- 759 BTC in statutory capital and surplus
- 15 broker partners signed since BTC Life 1-Pay launched
- Net long-term underwriting income in 2026 already exceeds the total from 2025 and is on track to more than double
Meanwhile did not disclose an absolute figure for its underwriting income.
What the company's products look like
Meanwhile introduced BTC Life 1-Pay in early 2026 for high-net-worth clients outside the U.S. The whole life insurance policy requires a single premium paid in bitcoin and guarantees a death benefit also paid in bitcoin. After the first year, policyholders can borrow up to 90% of the policy's value, with no repayment schedule and no margin calls.
The company's earlier BTC 10-Pay product was designed specifically for U.S. taxpayers. BTC stands for bitcoin in both product names.
Brokers in Asia, Europe, and the Middle East
Since launching BTC Life 1-Pay, Meanwhile has signed 15 brokers serving wealthy families across regions including Singapore, Hong Kong, the UAE, and Switzerland. 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.
Meanwhile co-founder and CEO Zac Townsend said that brokers approached the company because their clients were asking for bitcoin-denominated life insurance options. He described the new funding as a way to keep pace with that demand.
Statements from investors and partners
Bain Capital Crypto partner Stefan Cohen said Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup, adding that the company's growth this year proves the model works.
Lioner partner Giorgio Jeni said high-net-worth individuals with international ties are thinking more broadly about how they manage wealth for the future and that more clients are asking not just how to hold bitcoin but how to plan around it and transfer it to the next generation. Apeiron Group CEO Justin Man echoed this point, noting clients want structured ways to pass digital assets to heirs.
What is confirmed
- Meanwhile raised $37.5 million in a round led by Bain Capital Crypto
- The company's total funding now exceeds $180 million
- Meanwhile reported 1,183 BTC in total assets at end of 2025 and 759 BTC in statutory capital and surplus
- The company operates under a Class IILT license from the Bermuda Monetary Authority
- BTC Life 1-Pay launched in early 2026 for non-U.S. high-net-worth clients
- 15 broker partners have been signed in markets including Singapore, Hong Kong, the UAE, and Switzerland
- Sam Altman is among the company's backers
Why this matters
Meanwhile is one of a small number of regulated life insurers that hold assets, pay premiums, and issue death benefits entirely in bitcoin. For wealthy families that already hold bitcoin, the product offers a way to structure that holding for inheritance within a regulated insurance framework. The expansion into Asia, Europe, and the Middle East through broker partnerships suggests growing demand for bitcoin-denominated wealth transfer tools outside the United States.
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.