Sam Altman-backed bitcoin life insurer Meanwhile raises $37.5 million round led by Bain Capital Crypto

Bitcoin (BTC) life insurance company Meanwhile has raised $37.5 million from existing investors, led by Bain Capital Crypto, bringing its total funding to more than $180 million as it expands beyond the U.S. Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital also participated in the round, the Bermuda-based company announced Thursday. The new funding follows an $82 million round in October 2025, co-led by Bain Capital Crypto and Haun Ventures. Meanwhile, whose backers also include Sam Altman, had previously closed a $40 million Series A in April of that year. Meanwhile reported 1,183 BTC in total assets at the end of 2025, up more than fivefold from a year earlier, according to audited figures released in April. The company also reported 759 BTC in statutory capital and surplus. The firm said Thursday that its net long-term underwriting income has already exceeded the total recorded last year and is on track to more than double in 2026. It did not provide an absolute figure for the income. "Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup," Bain Capital Crypto Partner Stefan Cohen said in the statement. "The growth this year proves the model." Meanwhile introduced BTC Life 1-Pay in early 2026 for high-net-worth clients outside the U.S. The whole life policy requires a single premium paid in bitcoin and provides a guaranteed death benefit in the cryptocurrency. Policyholders can borrow up to 90% of the policy's value after the first year, without a repayment schedule or margin calls. Its earlier BTC 10-Pay product was specifically developed for U.S. taxpayers. Meanwhile expands international broker network The company said it has signed 15 brokers serving wealthy families since launching BTC Life 1-Pay, including in Singapore, Hong Kong, the UAE, and Switzerland. Its 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. "Wealthy families around the world already hold bitcoin. What they haven't had is a regulated way to pass it on," Meanwhile co-founder and CEO Zac Townsend said. "Brokers came to us because their clients kept asking. This round lets us keep up with them." "As Bitcoin and other digital assets become part of the wealth landscape, high-net-worth individuals with international interests and ties are thinking more broadly about how they manage wealth for the future," Lioner Partner Giorgio Jeni said. "We're reaching a turning point where more high-net-worth clients are asking not just how to hold bitcoin and digital assets, but how to plan around them and ultimately transfer that wealth to the next generation," Apeiron Group CEO Justin Man added. Meanwhile received its Class IILT license from the Bermuda Monetary Authority in July 2024 after spending two years in the regulator's sandbox. The company keeps its balance sheet, reserves, and audited financial statements denominated in bitcoin, while regulated institutional custodians hold policyholder funds.