Insurtech Betterfly raises $60M Series B

LatamListBetterfly, a Chilean insurtech, raised a $60M Series B funding round, the largest insurtech funding round to date. DST Global, QED Investors, Valor Capital, Endeavor Catalyst, and the SoftBank Latin America Fund all participated in the round.

Betterfly is a global insurance platform that combines well-being, insurance, and social purpose in a B2B2C model. The company encourages clients to take care of their mental and physical health while providing financial protection.

The platform provides a fully digital insurance subscription to companies that gives each employee smart life insurance. Customers can earn “Better Coins” that are exchanged for charitable donations and rewards by clocking healthy daily habits such as exercise, sleep, and meditation.

“We want to democratize access to physical, mental, and financial well-being, and empower people to become the best version of themselves while making an impact on their families and communities,” said Eduardo della Maggiora, founder and CEO of Betterfly.

The startup plans to use the new funding to continue growth across the region, starting with Brazil. Betterfly also wants to establish new key partnerships with insurance carriers and players in the financial, healthcare, and well-being services.

Read more on Business Wire.

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