Betterfly raises $125 million
Betterfly, the Chilean startup offering companies a benefits platform to reward employees’ healthy habits, has hit unicorn status following a new round of funding. The $125 million Series C round, which gives Betterfly a $1 billion valuation, was led by Glade Brook Capital Partners and included participation from new investors Greycroft Partners, Lightrock LLP, QED Investors, and DST Global Investment Partners.
Founded in 2018, the startup has operations in Chile and Brazil and it is preparing to begin operations in seven new markets in 2022 — Mexico, Colombia, Argentina, Peru, Ecuador, Panama and Costa Rica. Betterfly also plans to start operations in the United States, Spain and Portugal in 2023.
Last year, Chubb announced a collaboration with the startup, making its platform available to retail clients while Betterfly will offer Chubb products to its customers in exchange.
Betterfly has over 2,500 corporate clients, ranging from small businesses to publicly traded ones.
“We plan to continue to grow our platform, including new insurance products, lifestyle and financial services to our benefits offering, establishing key partnerships with insurance carriers and financial service companies.” – Betterfly.