Meanwhile raises $37.5 million in Bain-led round

$37.5 million is going to Bitcoin life insurer Meanwhile in a round led by Bain Capital Crypto, the company announced on October 8. The funding takes its total above $180 million and backs its push to serve clients outside the United States, according to Meanwhile’s funding announcement.

The round also included Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital. Meanwhile said all were existing investors; the company’s backers also include Sam Altman.

What does Meanwhile’s Bitcoin policy do?

BTC Life 1-Pay is a whole life policy for high-net-worth clients outside the U.S. that lets a customer pay one premium in Bitcoin and receive a guaranteed death benefit in Bitcoin, the company said.

The policy’s value grows in Bitcoin. After the first year, its owner can borrow up to 90% of that value, with no repayment schedule or margin calls, according to the company. Individuals, trusts or companies can own a policy, which Meanwhile says is designed for succession and estate planning.

The product is the company’s second line. Its earlier BTC 10-Pay policy was designed for U.S. taxpayers. Meanwhile launched the single-premium product in early 2026 to serve clients abroad.

Where is the insurer expanding?

Meanwhile said it has signed 15 brokers serving wealthy families since launching BTC Life 1-Pay, including partners in Singapore, Hong Kong, the United Arab Emirates and Switzerland. The Block reported on the fundraise and broker network, citing the company’s announcement.

Named partners include Lioner, an insurance, trust and family office group with offices in Hong Kong, Singapore and Zurich, and Apeiron Group, a marketplace for high-net-worth life insurance. The company said the new capital will help it keep pace with demand from brokers and continue international growth.

Meanwhile has not disclosed an absolute figure for its underwriting income. It said net long-term underwriting income has already exceeded last year’s total and is on track to more than double in 2026. That is a company forecast, not a reported full-year result.

How is the business regulated and backed?

Meanwhile Insurance Bitcoin (Bermuda) Limited received a Class IILT license from the Bermuda Monetary Authority in July 2024, after two years in the regulator’s sandbox, the company said. It describes itself as the first life insurer licensed to operate entirely in Bitcoin.

Its balance sheet, reserves and audited financial statements are denominated in Bitcoin, and regulated institutional custodians hold policyholder Bitcoin, according to the company. Its products are available only to “Sophisticated Persons,” through appropriately licensed intermediaries and where permitted; they are not available in every jurisdiction.

The latest financing follows an $82 million round in October 2025 and a $40 million Series A in April 2025, The Block reported. For you as a potential customer, that investor support and a Bermuda license provide context, but they do not change the policy’s limits on who can apply or where it can be sold.

Sources

• Meanwhile’s funding announcement — meanwhile.bm
• reported on the fundraise and broker network — theblock.co