EconomyFinancialBetterfly, the unicorn that invests 50 million dollars in...

Betterfly, the unicorn that invests 50 million dollars in Mexico

The Betterfly company has already achieved its unicorn status and announced its arrival in Mexico with an investment of 50 million dollars (mdd) and the generation of 80 job vacancies during the first months of 2022.

The Chilean startup is the first Latin American company to be certified as a B company that is valued at $1 billion, after a series of fundraisers that tripled Betterfly’s valuation.

In Mexico, the focus of talent will focus on building management teams to operate the country: country manager, heads of the different disciplines ( Marketing, Insurance, Sales, Customer Service, Human Resources , etc.), in addition to building teams of social impact.

series of rounds

The company that already operates in Chile and Brazil carried out a round of Series C investment funds for 125 million dollars, with which it achieved unicorn status, by becoming the first Latin American company with B certification valued at 1,000 million dollars. Dollars.

The company reached this milestone six months after raising the 60 million dollars corresponding to the Series B, and tripled its valuation. This round, together with the previous ones, add up to a total of 200 million dollars (of capital raised).

Presence in Latin America

The Chilean company detailed in a statement that it plans to use the proceeds from the collection round to start operations this 2022 in:

  • Mexico
  • Colombia
  • Argentina
  • Peru
  • Ecuador
  • Panama
  • Costa Rica

In addition, he announced that he plans to have a presence by 2023 in:

  • U.S
  • Portugal
  • Spain

What does Betterfly the unicorn do?

An insurance model founded in 2018 by Endeavor entrepreneur Eduardo della Maggiora, Betterfly is reimagining both product and distribution in the global employee benefits and insurance market with a disruptive business model focused on delivering a “Prevention, Protection and Purpose” fully digital and all in one.

The company has developed the B2B2C insurance model that integrates wellness, financial services, and social impact with a mission to inspire people to do better, live better, and be better.

“Less than 2 years since launch, today marks a historic milestone for both Betterfly and purpose-driven companies around the world that use business as an engine for good. We are honored to attract some of the best investors in the world to focus on financial inclusion, well-being and social impact”.

“These funds will further our plans to bring the Betterfly Effect to every corner of the planet by building a world where everyone is financially protected and motivated to live their best life,” said Eduardo della Maggiora, Founder and CEO of Betterfly.

“Betterfly is pioneering a new way to provide financial protection to millions of people by empowering them with physical, mental and financial care. We believe that Betterfly is building the ‘SuperApp for Employee Benefits and Wellness’ and we are incredibly excited to partner with Eduardo and his entire team,” said Paul Hudson, Founding Partner of Glade Brook Capital.

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