Bermuda-based bitcoin life insurer Meanwhile has raised $37.5 million in a funding round led by Bain Capital Crypto, valuing the startup at $350 million and bringing its total funding to over $180 million. Backed by Sam Altman, Meanwhile offers life insurance policies with premiums and death benefits denominated entirely in bitcoin. The company is expanding internationally, signing 15 brokers in markets like Singapore and Switzerland to serve high-net-worth clients seeking tax-efficient wealth transfer.
Details of Meanwhile's funding rounds
- ▪Bermuda-based bitcoin life insurance company Meanwhile raised $37.5 million in a funding round led by Bain Capital Crypto
- ▪Investors participating in Meanwhile's $37.5 million funding round included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital
- ▪A $37.5 million funding round led by Bain Capital Crypto brings bitcoin life insurance company Meanwhile's total funding to more than $180 million, following an $82 million round in October 2025 and a $40 million Series A in April 2025
Bitcoin-denominated life insurance products
- ▪Meanwhile's BTC Life 1-Pay product, launched in early 2026 for non-U.S. clients, requires a single premium paid in bitcoin, provides a guaranteed death benefit, and allows borrowing up to 90% of the policy's value
- ▪Meanwhile offers life insurance policies with premiums, reserves, and death benefits denominated in bitcoin, allowing policyholders to access cryptocurrency gains without capital gains tax
International broker partnerships
- ▪Bitcoin life insurance company Meanwhile has signed 15 international brokers serving wealthy families in Singapore, Hong Kong, the United Arab Emirates, and Switzerland since launching its BTC Life 1-Pay product
- ▪Meanwhile's international broker partners include Lioner, an insurance and wealth management group, and Apeiron Group, which operates a high-net-worth life insurance marketplace
Regulated operations
- ▪Bitcoin life insurance company Meanwhile received its Class IILT license from the Bermuda Monetary Authority in July 2024 after operating for two years in the regulator's sandbox
- ▪International brokers approached Meanwhile because their clients wanted a regulated way to pass on bitcoin, according to co-founder Zac Townsend
Financial growth and performance
- ▪Bitcoin life insurance company Meanwhile stated that its net long-term underwriting income in 2026 has already exceeded its 2025 total and is on track to more than double by the end of 2026
- ▪Bitcoin life insurance company Meanwhile reported 1,183 BTC in total assets and 759 BTC in statutory capital and surplus at the end of 2025, representing a fivefold increase in total assets from the prior year
Audited financial statements
- ▪Bitcoin life insurance company Meanwhile maintains its balance sheet, reserves, and audited financial statements denominated in bitcoin, with regulated institutional custodians holding policyholder funds
- ▪Bitcoin life insurance company Meanwhile released its audited financial figures in April 2026
Debatable claims
- ▪Bitcoin is a suitable asset for denominating life insurance
- ▪Borrowing against bitcoin-denominated life insurance poses unacceptable financial risks
- ▪Governments should tax cryptocurrency-denominated life insurance to prevent tax avoidance
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