Meanwhile Raises $37.5M to Sell Life Insurance That Pays Heirs in Bitcoin
A Bermuda-based life insurer that keeps its entire balance sheet in bitcoin just raised $37.5 million from the investors who already back it.
Meanwhile's round was led by Bain Capital Crypto, with Haun Ventures, Framework Ventures, Pantera Capital, Apollo, Northwestern Mutual Future Ventures and Morgan Creek Digital joining in. That pushes total funding past $180 million, after an $82 million raise in October 2025 and a $40 million Series A earlier that year. OpenAI CEO Sam Altman is among its backers.
Insurance that pays out in BTC
Meanwhile holds the first license of its kind from the Bermuda Monetary Authority, granted in July 2024 after two years inside the regulator's sandbox. Its reserves, balance sheet and audited financial statements are all denominated in bitcoin, while policyholder coins sit with regulated institutional custodians.
The product driving the growth is BTC Life 1-Pay, a single-premium whole life policy launched in early 2026 for high-net-worth clients outside the US. A buyer pays one premium in bitcoin and locks in a guaranteed death benefit paid in the same asset. After the first year, policyholders can borrow up to 90% of the policy's value — no repayment schedule, no margin calls. An earlier 10-payment version was built specifically for US taxpayers.
Brokers came knocking
The company has signed 15 broker partners since launch, spanning Singapore, Hong Kong, the UAE and Switzerland. CEO Zac Townsend said wealthy families already hold bitcoin and simply lacked a regulated route to hand it to the next generation.
The numbers back the pitch. Meanwhile reported 1,183 BTC in total assets at the end of 2025 — more than five times the prior year — plus 759 BTC in statutory capital and surplus, and said its long-term underwriting income is on track to more than double in 2026.
Why it matters: bitcoin keeps finding new wrappers that make it legible to traditional finance. This one turns it into an inheritance tool.