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ZEC $1,240 Meanwhile raises $37.5M for Bitcoin life insurance
The Bermuda-based insurer's new round, led by Bain Capital Crypto, brings total funding above $180 million.
Key takeaways
- Total funding tops $180M. The round brought Meanwhile's total capital raised above $180 million, the company said.
- Two earlier rounds. Meanwhile raised $82 million in October 2025 and closed a $40 million Series A in April of that year.
- Bitcoin holdings reported. Meanwhile reported 1,183 BTC in total assets at the end of 2025 and 759 BTC in statutory capital and surplus.
What happened
Meanwhile, a Bermuda-based life insurer that prices policies in bitcoin, raised $37.5 million from existing investors led by Bain Capital Crypto on October 8. The company said the round lifted its total funding above $180 million.
Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital also took part. Meanwhile said the money supports its expansion beyond the United States.
The raise follows an $82 million round in October 2025 co-led by Bain Capital Crypto and Haun Ventures, and a $40 million Series A closed in April of that year.
Why it matters
Meanwhile sells life cover tied to bitcoin rather than dollars. Policyholders can borrow up to 90% of the policy's value after the first year, with no repayment schedule or margin calls.
The company said it has signed 15 brokers serving wealthy families in Singapore, Hong Kong, the UAE and Switzerland. Zac Townsend, co-founder and CEO, said brokers approached Meanwhile because their clients kept asking.
Townsend said wealthy families already hold bitcoin and have not had a regulated way to pass it on. Bain Capital Crypto partner Stefan Cohen said the company's growth this year proves its model of owning every layer of a regulated life insurer while building like an AI-enabled startup.
What the data shows
- Audited figures released in April put Meanwhile's total assets at 1,183 BTC at the end of 2025, more than five times the level a year earlier.
- Statutory capital and surplus stood at 759 BTC.
- Funding during 2025 reached approximately $122 million after the October round that year.
- Meanwhile said its net long-term underwriting income has passed last year's full total and should more than double in 2026.
Background
- The Bermuda Monetary Authority licensed Meanwhile in July 2024 after two years in its insurance sandbox.
- OpenAI CEO Sam Altman is an earlier backer who took part in the company's initial funding.
- Meanwhile keeps its balance sheet, reserves and audited financial statements in bitcoin, and regulated institutional custodians hold policyholder funds.
What is still unclear
- The October 8 announcement did not name Altman among the investors in the new round.
- Meanwhile has not disclosed a revenue figure or a valuation in its funding announcement.
- The company did not give an absolute figure for its underwriting income.
Questions readers ask
How much did Meanwhile raise?
Meanwhile raised $37.5 million from existing investors on October 8, led by Bain Capital Crypto. The company said the round brought total funding above $180 million.
Who invests in Meanwhile?
Bain Capital Crypto led the round, with Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital taking part. OpenAI CEO Sam Altman is an earlier backer and was not named in the October 8 announcement.
What is BTC Life 1-Pay?
Policyholders can borrow up to 90% of the policy's value after the first year.
Is Meanwhile regulated?
Yes. Meanwhile holds a Class IILT license from the Bermuda Monetary Authority, granted in July 2024 after two years in the regulator's sandbox.
