Bermuda's Meanwhile raises $37.5M for Bitcoin life insurance

A Bitcoin‑focused life‑insurance company based in Bermuda announced it has closed a new funding round that raised $37.5 million. The deal brings the total capital raised by the startup to more than $180 million. Investors include Bain Capital Crypto and entrepreneur Sam Altman.

The company is targeting wealthy families who own large amounts of Bitcoin and want a way to transfer that digital wealth to heirs. Traditional life insurance does not cover cryptocurrency, so the firm offers a product that pays out a death benefit in BTC or fiat, depending on the policyholder’s preference. The move comes as more high‑net‑worth individuals look for ways to protect and pass on their crypto holdings.

Bain Capital Crypto, a venture arm that invests in blockchain technologies, and Sam Altman, co‑founder of OpenAI, are among the backers. Their involvement signals growing confidence in crypto‑related financial services. The company’s leadership said the new capital will be used to expand its product line and hire additional compliance staff to meet regulatory requirements in multiple jurisdictions.

The funding round underscores a broader trend of institutional interest in crypto‑specific financial products. As more families build wealth in digital assets, demand for secure, regulated ways to transfer that wealth is rising. The firm plans to roll out its first policy in the next quarter, aiming to capture a niche market that has been underserved by traditional insurers.