QED Investors led a US$17.5m Series A in Betterfly (formerly Burn to Give), a Chilean certified B-Corp insurtech providing life insurance to SMEs and incentivizing policyholder’s wellbeing with subsidized coverage. Grupo Prisma, Albatross Capital, and Katapult Impact invested US$8.5m in Betterfly in July 2020.
[LAVCA] – Betterfly, a Chilean startup that offers wellness benefits platform that rewards people’s good habits with social giving and life insurance that grows at no cost, has announced new finance round adding $9 mn to a total of $17.5 mn. In July, Betterfly announced it had raised $8.5 mn.
The funding round was led by QED Investors, a North American venture capital company. Betterfly has developed an innovative benefits platform combining data, insurance and purpose to take each person on a lifetime journey of improved wellbeing and financial protection. The company’s unique approach to employee wellbeing boosts commitment to healthy living by turning healthy habits into social donations and no-cost life insurance that grows day by day.
The InsurTech is planning to use the finance to accelerate its growth and combine its three lines of action: InsurTech, employee benefits and internationalization over the next two years.
“The innovation of our model is that we do not exclude by pre-existence, or by socioeconomic level, or by age. We are democratizing a product that has traditionally been exclusive to a few. QED Investors had never invested in the country and neither in wellness and health, I think what convinced them was that we are building something that doesn’t exist anywhere and that is pure innovation,” mentioned Eduardo della Maggiora, Founder & CEO at Betterfly in Linkedin.
Founded in 2018, Betterfly is a purpose-driven health & insurtech company with the mission of helping people live healthier, happier lives while making an impact in the world. The company offers a fully digital, all-in-one wellbeing and insurance subscription that improves, protects and inspires lives.