Bermuda-based bitcoin life insurer Meanwhile has raised $37.5 million in a round led by Bain Capital Crypto, pushing its total funding past $180 million as the company scales its bitcoin-denominated life insurance products for high-net-worth clients outside the United States.

Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital participated, the company said Thursday. The round follows an $82 million raise in October 2025 co-led by Bain Capital Crypto and Haun Ventures, and a $40 million Series A in April of the same year. Meanwhile's backers include OpenAI CEO Sam Altman.

What does the new capital fund?

The proceeds will support international distribution of Meanwhile's BTC Life 1-Pay policy, a whole-life product introduced in early 2026 that accepts a single premium paid in bitcoin and delivers a death benefit denominated in the cryptocurrency. Policyholders can borrow up to 90% of the policy's cash value after the first policy year, without repayment schedules or margin calls. Meanwhile's earlier BTC 10-Pay product serves U.S. taxpayers.

Meanwhile reported 1,183 BTC in total assets at year-end 2025, up more than fivefold from 2024, according to audited figures released in April. Statutory capital and surplus stood at 759 BTC. The company said Thursday that net long-term underwriting income for 2026 has already exceeded the full-year 2025 total and is on track to more than double by year-end, though it declined to provide an absolute figure.

Which brokers have signed on?

Meanwhile said it has onboarded 15 broker partners serving wealthy families since launching BTC Life 1-Pay. Distribution now extends across Singapore, the UAE, Switzerland, and Hong Kong. Two named partners anchor the channel:

• Lioner, an insurance and wealth management group with offices in Hong Kong, Singapore, and Zurich
• 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.

How is the company regulated?

Meanwhile holds a Class IILT license from the Bermuda Monetary Authority, granted in July 2024 after two years in the regulator's sandbox framework. The insurer keeps its balance sheet, reserves, and audited financial statements denominated in bitcoin, while regulated institutional custodians hold policyholder funds.

"Meanwhile owns every layer of a regulated life insurer and builds it like an AI-enabled startup," Bain Capital Crypto Partner Stefan Cohen said. "The growth this year proves the model."

What comes next?

Meanwhile's growth trajectory now hinges on converting broker demand into policy sales across its four priority jurisdictions while preserving the BTC-denominated reserve structure that distinguishes it from dollar-based offshore carriers. The next material disclosure will be the company's 2026 audited financials, expected in the spring of 2027, which will reveal whether the projected doubling of underwriting income materializes.