Chilean startup Burn to Give raises $8.5M Series A

LatamListBurn to Give, a purpose-driven wellbeing and insurtech startup, raised an $8.5M Series A, the largest funding round achieved by any Chilean startup at this stage.

Burn to Give offers a wellbeing and insurance platform. It empowers organizations and employees to improve their health and wellbeing, while positively impacting the lives of others.

“We are creating a purpose-driven life insurance service that celebrates life, inspires living, and focuses on rewarding those who have taken responsibility for their health and overall wellbeing,” Burn to Give explained.

The company’s unique approach to employee wellbeing rewards good habits with life insurance coverage that grows every day. Furthermore, every healthy activity is converted into a charitable donation.

Burn to Give offers an instant smart group life insurance cover that includes telemedicine, data insights, and well-being programs. It combines employee benefits and charitable contributions, which in turn lead to employee wellness.

The funding comes from both local and international investors, including Albatross Capital, Grupo Prisma, and Norwegian Katapult Impact. Various private investors from JP Morgan, Endeavor Capital, Grupo Bio Ritmo, and Genesis Investment Management.

Burn to Give recently became a Public-benefit corporation, providing a beneficial impact in society.

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