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Insurtech Betterfly launches ambitious LatAm expansion

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Founded in 2018, Chilean insurance technology startup Betterfly went from nothing to a $1 billion valuation and a well-established footprint in Latin America.

This February, it became Chile’s third unicorn company. It took $125 million from venture capital investors at a series-C round that saw its valuation break through the billion-dollar threshold. It was led by Glade Brook Capital, which adds to previous investors such as QED, Softbank, and DST Global Partners. 

The rise of the social and wellbeing benefits platform has been meteoric. Together with a previous series-B round in 2021, the company has raised some $200 million over six months. 

Eduardo della Maggiora.

International expansion is one of the critical priorities, Eduardo della Maggiora, Founder and CEO, said to LendIt Fintech. Part of the funds from the latest funding round will be applied to opening new markets in the region.

“We have set ourselves the goal, in addition to consolidating our current position in Chile and Brazil, to open different markets in Latin…

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