Bitcoin-Denominated Life Insurer Meanwhile Raises $37.5M in Series B Extension

Bitcoin-based life insurer Meanwhile has secured an additional $37.5 million from existing shareholders, led by Bain Capital Crypto, lifting the company's total funding to more than $180 million. The Bermuda-regulated insurer said demand for a "compliant BTC inheritance" solution is accelerating among wealthy families outside the U.S., especially across Asia, Europe, and the Middle East, as macro uncertainty drives interest in regulated pathways for holding and transferring digital wealth. Premiums and death benefits are paid and settled in bitcoin, and the company expects long-term underwriting income to more than double by 2026, without disclosing specific figures. Alongside Bain Capital Crypto, the round included participation from Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Morgan Creek Digital. Sam Altman is also an investor. Co-founder and CEO Zac Townsend said affluent households globally already hold bitcoin, but have lacked a regulated structure for inheritance. Meanwhile said brokers approached the firm as client requests increased, and the fresh capital will support growth to meet that demand. In early 2026, the company launched BTC Life 1Pay, a single-premium whole life product for high-net-worth clients outside the United States. The product follows BTC 10Pay, which targets U.S. taxpayers. Under BTC Life 1Pay, customers make a one-time premium payment in bitcoin and receive a lifetime guaranteed death benefit denominated in bitcoin. The policy value grows in bitcoin, and after one year policyholders may borrow up to 90% of the policy's value, with no fixed repayment schedule and no margin calls. Policies can be owned by individuals, trusts, or corporations, positioning the product for inheritance and estate planning, the company said. Since launch, Meanwhile has signed 15 brokers serving affluent families across Singapore, Hong Kong, the UAE, and Switzerland. Partners include Lioner, an insurance, trust, and family office group with offices in Hong Kong, Singapore, and Zurich, and Apeiron Group, a marketplace focused on high-net-worth life insurance. Apeiron Group CEO Justin Man said more clients are moving beyond questions of how to hold bitcoin and digital assets to how to plan around them and transfer that wealth to the next generation. Bain Capital Crypto partner Stefan Cohen said Meanwhile is building the full stack of a regulated life insurer while operating with an AI-driven startup approach, and argued that the company's growth this year supports that model. Meanwhile's operating entity, Meanwhile Insurance Bitcoin (Bermuda) Limited, holds the first IILT license issued by the Bermuda Monetary Authority. The license was granted in July 2024 after two years in the regulator's sandbox. The insurer said its balance sheet, reserves, and audited financial statements are denominated in bitcoin, and policyholder bitcoin is held with regulated custodians.