Quick take:
- The fundraising brings the total raised this year to $122 million, following a $40 million Series A announced earlier in the year.
- The Bermuda-regulated firm, which claims to be the first Bitcoin-only denominated life insurance firm, started offering insurance policies in 2023.
- The company plans to use the fresh capital to advance its product offering amid increased interest from families and established financial institutions.
Meanwhile, the “first” Bitcoin-denominated life insurance provider has raised $82 million in a funding round co-led by Bain Capital Crypto and Haun Ventures. The fundraising also attracted participation from Apollo, Northwestern Mutual, Pantera Capital, and Stillmark, the Bermuda-regulated firm announced on Tuesday.
According to the press release seen by NFTgators, Meanwhile plans to use the fresh capital to advance its product offering amid rising interest from families and established financial institutions.
The latest funding brings the total raised this year to $122 million, following a $40 million Series A round, which Framework Ventures and Fulgur Ventures co-led earlier in the year.
Commenting on the announcement, Zac Townsend, CEO of Meanwhile, said in a statement: “Life insurers have always provided the steady, long-term capital that keeps financial markets moving. We’re bringing that same role to Bitcoin—helping families save and protect wealth in BTC, while giving institutions new ways to earn returns and launch bitcoin-indexed products that are compliant and easy to scale. This raise lets us build on what’s working and expand it with partners around the world.”
According to Meanwhile, its Bitcoin-denominated insurance products are a demonstration of how Bitcoin can be leveraged to be more than a short-term speculative investment. The company says it delivers bitcoin-denominated savings and protection that families and institutions can rely on. It also offers sustainable yield through conservative private credit and long-term lending to high-quality counterparties.
Chris Ahn, Partner at Haun Ventures, commented: “Just as the U.S. economy was built on insurance, pensions, and mortgages, the Bitcoin economy will require its own long-duration financial products. Meanwhile is the first mover in this category, and we believe it will unlock a new wave of innovation across Bitcoin-denominated markets.”
Stefan Cohen, Partner at Bain Capital Crypto, added: “Meanwhile is building simple, compliant, and lasting products that make Bitcoin practical for both people and institutions. We’re excited to back the team as they scale and work with established insurers to bring bitcoin-linked savings and retirement products to market—safely, at institutional grade, and globally.”
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