Meanwhile raises $37.5M at reported $350M valuation for Bitcoin life insurance

Meanwhile, a Bermuda-regulated insurer that underwrites Bitcoin-denominated whole-life policies, has raised $37.5 million from existing investors. Customers fund premiums in Bitcoin, and beneficiaries receive claims in Bitcoin, so the contract remains tied to the asset rather than becoming a dollar-denominated obligation. Axios reported a $350 million valuation; Meanwhile’s announcement did not disclose that figure.

For the international BTC Life 1-Pay product, a licensed intermediary brings the customer to Meanwhile, which verifies the customer’s wallet before accepting a single Bitcoin premium. Policy documents follow completion of underwriting. From the first policy anniversary, the owner may borrow in Bitcoin against as much as 90% of the surrender value; the loan carries 3% annual interest, has no repayment schedule or margin calls, and reduces the eventual claim if it remains outstanding.

Meanwhile is the insurance carrier, not software connecting buyers with an unrelated underwriter. Its subsidiary holds a Bermuda Class IILT license, while its balance sheet, reserves and audited financial statements are denominated in Bitcoin. The company says policyholder assets sit in segregated custody with Anchorage Digital and Coinbase. The arrangement preserves Bitcoin exposure, including changes in its dollar value, rather than guaranteeing beneficiaries a fixed dollar payout.

Bain Capital Crypto led the new financing, which the announcement says came entirely from existing investors. Meanwhile now reports more than $180 million of total funding. The round follows an $82 million Series B announced in October 2025, when the company described plans for Bitcoin-denominated annuities, savings products and insurance bonds in addition to life insurance.

International distribution does not mean open online retail. Policies must go through appropriately licensed intermediaries, are limited to clients who satisfy Bermuda’s sophisticated-person standard and remain unavailable in some jurisdictions. Meanwhile says it now has relationships with 15 brokers serving wealthy families, naming Lioner and Apeiron Group among its partners.