Meanwhile raises $37.5 million in Bain-led round

Bermuda-based insurer Meanwhile has raised $37.5 million from existing investors led by Bain Capital Crypto, adding capital as it expands Bitcoin-denominated life insurance beyond the United States. In its funding announcement, the company said its total funding now exceeds $180 million.

The October 8 round also included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. Meanwhile’s backers include Sam Altman, but the announcement did not say he took part in this round.

What does Meanwhile’s Bitcoin policy offer?

Its BTC Life 1-Pay policy lets a customer pay one premium in Bitcoin in return for a guaranteed death benefit denominated in Bitcoin, according to the company. Launched in early 2026, the whole-life product targets high-net-worth clients outside the United States.

After the first year, policy owners can borrow up to 90% of the policy’s value, the company says, without a repayment schedule or margin calls. The policy can be owned by an individual, trust or company, which Meanwhile says can support succession and estate planning.

The product is the company’s second policy line. Its BTC 10-Pay product is designed for U.S. taxpayers. Meanwhile says its balance sheet, reserves and audited financial statements are denominated in Bitcoin, and that policyholder Bitcoin is held with regulated institutional custodians.

Where is Meanwhile expanding, and what comes next?

Meanwhile says it has signed 15 brokers serving wealthy families, including in Singapore, Hong Kong, the United Arab Emirates and Switzerland. CoinDesk’s report on the funding round also described the broker network as part of the company’s expansion outside the U.S.

The company holds a Bermuda Monetary Authority Class IILT license, which it says it received in July 2024 after two years in the regulator’s sandbox. Its products are offered only through appropriately licensed intermediaries where permitted, according to the announcement.

Meanwhile says demand for its policies has grown in Asia, Europe and the Middle East. It also reports that net long-term underwriting income has already passed last year’s total and is on track to more than double in 2026, without giving an absolute figure.

That income figure is the next signal to watch: Meanwhile says it expects to more than double it by the end of 2026. The company has not yet published the full-year result.

Source material

• funding announcement — meanwhile.bm
• report on the funding round — coindesk.com