Bitcoin life insurer Meanwhile raises $82 million in new funding to expand operations

Meanwhile, a bitcoin life insurance company backed by high-profile investors including OpenAI CEO Sam Altman , has raised $82 million in new funding to expand operations globally.

The new round was co-led by Haun Ventures and Bain Capital Crypto, with participation from Pantera Capital, Apollo, Northwestern Mutual Future Ventures, and Stillmark, Meanwhile said on Tuesday.

The new raise comes just six months after Meanwhile closed a $40 million Series A in April. The company's CEO, Zac Townsend, told The Block the latest round was pre-empted by Bain and Haun, who approached the company in July. Meanwhile signed a term sheet in August and closed the deal in September.

Notably, Townsend said the company raised dollar funding from investors primarily to purchase bitcoin for its balance sheet and strengthen its capital base. The round was not structured as traditional equity, and investor stakes will convert to either equity or bitcoin depending on the company’s future performance. The round does not carry a specific series designation and brings Meanwhile’s total funding to date to $143 million.

Townsend declined to comment on the post-money valuation but said it was a "significant upround" from the company's $190 million valuation following its Series A earlier this year.

Meanwhile's expansion plans

Meanwhile's flagship product is a life insurance policy denominated entirely in bitcoin, meaning all premiums, policy values, and claims are managed in BTC. The policy's minimum coverage is around 0.25 BTC and its maximum is 50 BTC. The product is currently available in the U.S. and Canada, where users can purchase coverage through equal annual installments paid over 10 years.

Townsend said Meanwhile has "hundreds of policyholders" and that its bitcoin-denominated assets under management have grown more than 200% year over year, rising from about 220 BTC last year to over 660 BTC this year. He noted the increase is measured entirely in BTC terms and unrelated to price appreciation, reflecting business growth rather than market movement.

As for Meanwhile's business model, the company generates yield through "conservative" private credit and long-term lending to institutional counterparties such as market makers, miners, and asset managers. Townsend said lending is conducted "in a secured or over-collateralized fashion," consistent with the risk management standards of traditional insurers.

Meanwhile plans to expand internationally and partner with existing insurers to integrate bitcoin into annuities and savings products. Townsend said the company is exploring Hong Kong, Dubai, and Singapore as potential markets for 2026.

Meanwhile currently employs 19 people and is hiring engineers while keeping its other teams steady. As part of the new funding round, Bain, Haun, and Pantera have joined as board observers, Townsend said.

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