Bain Capital Crypto leads fresh $37.5M round in bitcoin life insurer Meanwhile
Bitcoin life insurer Meanwhile raised $37.5 million led by Bain Capital Crypto, lifting total funding above $180 million as it expands outside the U.S.
Bermuda-based bitcoin life insurer Meanwhile raised $37.5 million in a round led by existing investor Bain Capital Crypto, lifting total funding above $180 million, the company announced on October 8.
Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital also participated, according to the announcement. The round arrives barely a year after an $82 million round in October 2025 that Bain Capital Crypto co-led with Haun Ventures, and after a $40 million Series A in April 2025.
For the investors, the repeat lead is a second bet on the same thesis. Stefan Cohen, a partner at Bain Capital Crypto, said in the announcement that the growth this year proves the model. Meanwhile, whose backers include OpenAI founder and CEO Sam Altman, sells whole life policies with premiums and death benefits denominated in bitcoin rather than dollars.
The new capital funds expansion outside the United States. Since launching its BTC Life 1-Pay policy in early 2026, the company has signed 15 brokers serving high-net-worth families in Switzerland, Singapore, Hong Kong and the UAE, per the announcement. That product takes a single bitcoin premium and pays a guaranteed BTC-denominated death benefit; policyholders can borrow up to 90% of policy value after the first year, with no repayment schedule or margin calls. Its earlier BTC 10-Pay product was built for U.S. taxpayers.
Zac Townsend, Meanwhile’s co-founder and CEO, said in the announcement that brokers came to the firm because their clients kept asking, and that the round lets it keep up with demand. Broker partners named in the announcement include Lioner, with offices in Hong Kong, Singapore and Zurich, and Apeiron Group, a marketplace for high-net-worth life insurance.
The company’s balance sheet, reserves and audited financial statements are denominated in bitcoin, with regulated institutional custodians holding policyholder funds. Audited figures released in April 2026 showed 1,183 BTC in total assets at the end of 2025, up more than fivefold year over year, along with 759 BTC in statutory capital and surplus.
Meanwhile received its Class IILT license from the Bermuda Monetary Authority in July 2024 after two years in the regulator’s sandbox.
