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- Betterfly
Betterfly Valuation, Funding & Investors
Betterfly is valued at $1B as of February 2022.
Last Betterfly valuation
$1B
Series C · Feb 2022
Last Betterfly funding round
$125M
Series C · Feb 2022
Cumulative funding Betterfly raised
$205M
across 5 funding rounds
Key investors in Betterfly
Endeavor Catalyst
QED Investors
DST Global
Asiri
SoftBank Group
Greycroft
About Betterfly
Betterfly is a Santiago-based wellbeing and insurance platform founded in 2018. It rewards employee healthy habits with growing life insurance coverage and converts activities into charitable donations. The company partners with organizations across Latin America to enhance health outcomes and community impact through integrated wellness programs.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$1B (Feb 2022)
Betterfly Valuation
Betterfly is currently valued at $1B, based on its Series C in February 2022. Read the announcement ↗
The $125M round was led by Glade Brook Capital Partners, with participation from Asiri, Alma Mundi Ventures, GG Capital, Greycroft, QED Investors and 3 other investors.
Betterfly's valuation has grown 3.3x from $300M at its Series B in June 2021 to $1B in February 2022, across 2 priced rounds.
Betterfly valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series C | $1B |
| Jun 2021 | Series B | $300M |
Betterfly Funding History
Betterfly has raised a total of $205M across 5 funding rounds.
Betterfly's first fundraising round was a $2M seed round in December 2018. The most recent completed round was a $125M Series C in February 2022.
Betterfly funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series C | Glade Brook Capital Partners (lead); Asiri; Alma Mundi Ventures; GG Capital; Greycroft; QED Investors; Flucas Ventures; Lightrock; DST Global | $125M | $1B | Betterfly is a Chilean insurtech platform that provides a digital benefits solution for employers to incentivize employee healthy habits like walking or meditation, offering perks such as growing life insurance coverage or charitable donations, which reduces sick days and medical costs for healthier workforces. The company raised $125 million in a Series C round on February 1-2, 2022, led by Glade Brook Capital Partners at a post-money valuation of $1 billion, with participation from Greycroft, Lightrock, and follow-on investments from QED Investors and DST Global; other investors aligned with the query include Alma Mundi Ventures, Flucas Ventures, GG Capital matching the described round. The proceeds from the Series C are earmarked for international expansion, including launches in seven new Latin American markets in 2022—Mexico, Colombia, Argentina, Peru, Ecuador, Panama, and Costa Rica—and entry into the U.S., Spain, and Portugal in 2023, alongside developing new insurance products and financial services. This unicorn-status round followed a $60 million Series B in July 2021 and acquisitions of six fintech and HRtech startups in October 2021, supporting rapid growth in employee wellness and personalized insurance benefits via gamification. Betterfly operates a B2B subscription model, enabling companies to customize employee benefits and convert healthy behaviors into social impact donations. The platform targets corporate wellness integration, with strategic growth through five total funding deals by early 2022, positioning it in the insurtech, AI, and mobile apps verticals amid LatAm expansion. |
| Jun 2021 | Series B | SoftBank Group (lead); QED Investors; Endeavor Catalyst; DST Global; Valor Capital Group; Bossa Invest | $60M | $300M | Betterfly is a Chilean insurtech startup founded in 2018 by brothers Cristobal and Eduardo della Maggiora, offering an employee benefits platform that integrates financial inclusion, well-being, and social impact through a B Corp-certified model. It operates primarily in Chile and Brazil at the time, focusing on corporate wellness and insurance solutions. In June 2021, Betterfly raised $60 million in a Series B round led by SoftBank Latin America Ventures, with participation from DST Global, QED Investors, Valor Capital Group, and Endeavor Catalyst, achieving a post-money valuation of $300 million USD, making it the highest-valued insurtech in Latin America at that point. This followed a prior $18 million round in December 2020, bringing total funding to $80 million across three rounds. The $60 million raise exceeded amounts secured by peers like Cornershop and NotCo at similar stages, highlighting Betterfly's rapid ascent in the regional VC landscape. The funds supported platform expansion and operational scaling in existing markets. This round positioned Betterfly ahead of its later Series C in late 2021 or early 2022, where it raised $125 million led by Glade Brook Capital Partners at a $1 billion valuation, becoming Chile's third unicorn after Cornershop and NotCo, and the first Latin American B Corp unicorn. Post-Series B growth led to plans for entry into seven new Latin American markets in 2022 and further expansion to the US, Portugal, and Spain by 2023, with employee count around 500 aiming to double. |
| Dec 2020 | Series A | QED Investors (lead); VentureSouq; Endeavor Catalyst | $9M | - | Betterfly is a Chilean insurtech startup offering a technology platform that combines insurance, wellbeing, and social purpose to help people live better. QED Investors led the company's Series A funding round in December 2020, following a Series B in June 2020. The Series A raised $18 million with participation from investors including QED Investors. Betterfly demonstrated early sales traction and efficient client conversion, convincing QED of its potential in solving problems for employers and employees. The company focused on scaling, team building, sales and marketing expansion, and maintaining a mission-oriented culture amid COVID challenges. |
| Jul 2020 | Series A | Albatross Capital (lead); Bio Ritmo; Mario Solari; Katapult; JPMorgan Chase; Grupo Prisma; Endeavor Catalyst | $9M | - | - |
| Dec 2018 | Seed | Asiri; Impacta VC | $2M | - | - |
Who has invested in Betterfly?
21 investors have backed Betterfly across its funding rounds, including Endeavor Catalyst, QED Investors, DST Global, Asiri, SoftBank Group and Greycroft.
Lead investors include Glade Brook Capital Partners, SoftBank Group, QED Investors and Albatross Capital.
Betterfly Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Dec 2020 | ||
| 3 | Participant | Jul 2020 | ||
| 2 | Participant | Dec 2018 | ||
| 2 | Participant | Jun 2021 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | Jul 2020 | ||
| 1 | Participant | Feb 2022 | ||
| 1 | Lead | Feb 2022 | ||
| 1 | Lead | Jun 2021 | ||
| 1 | Participant | Dec 2018 | ||
| 1 | Participant | Dec 2020 | ||
| 1 | Lead | Jul 2020 | ||
| 1 | Participant | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 21 Betterfly investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Betterfly
Betterfly has acquired 9 companies to date.
Last acquisition by Betterfly was on June 9th 2026. Betterfly acquired minu for $100M.
Latest Acquisitions by Betterfly
| Description | minu is a fintech platform providing Mexican workers with on-demand access to earned wages before payday. Partnering with corporate HR departments, minu enhances employee financial wellness, boosting talent retention and satisfaction. Backed by investors like QED Investors, the Mexico City-headquartered company operates across Latin America, serving thousands of employees through integrations with payroll systems. | Seuvale is an instant credit distribution platform operating in Southeast Asia, disbursing microloans to unbanked consumers via mobile wallets. Launched in 2021 from Indonesia, it partners with 10 lenders to approve 50,000 credits monthly using alternative data scoring. Seuvale integrates with Gojek and OVO for seamless payouts. | Flexoh is a platform for flexible employee remuneration packages in France and Spain. It enables companies to customize benefits including meal vouchers, transportation allowances, health insurance, and gym memberships via digital wallets. Flexoh integrates with payroll systems from Sage and ADP, processing distributions for mid-sized enterprises across Europe. | Xerpa is a HR automation platform offering Sherpa for managing employee leaves, benefits, and administrative tasks like form generation. Sao Paulo-headquartered and founded in 2015, it serves Brazilian companies by digitizing payroll and compliance processes. | |
| HQ Country | |||||
| HQ City | Mexico City | São Caetano do Sul | Alicante | São Paulo | |
| Deal Date | 9 Jun 2026 | 10 Nov 2022 | 11 Jul 2022 | 22 Sep 2021 | |
| Valuation | $100M | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Betterfly acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Betterfly Competitors
Betterfly competitors include listed companies like GoodRx and Hapvida, and private ones like Thatch, Rightway, PayZen and Curative.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1.1B | - | ||
| Publicly listed | $797M | $173M | $1.2B | 1.8x | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $1.3B | - | ||
| Publicly listed | $6.1B | $787M | $599M | 0.3x |
Betterfly Public Comps
Betterfly is still privately-owned, but its public comps include Eurowag, GoodRx, Hapvida, Evolent Health, Value HR, MetropolCard, Personal Group Holdings, Qualicorp, AIX Inc. and Progyny.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.7B | $119M | 0.5x | 3.0x | 10.3x | 7.5x | |||
| $797M | $173M | 1.8x | 1.8x | 8.1x | 5.5x | |||
| $6.1B | $787M | 0.3x | 0.3x | 2.7x | 4.0x | |||
| $1.9B | ($365M) | 0.7x | 0.5x | (3.5x) | 9.4x | |||
| $65M | $9M | 4.4x | 4.1x | 30.9x | - | |||
| $42M | $21M | 4.2x | - | 8.6x | - | |||
| $65M | $16M | 2.2x | 2.1x | 9.2x | 8.0x | |||
| $277M | $124M | 0.9x | 0.9x | 2.0x | 2.6x | |||
This data is available for Pro users. Sign up to see all Betterfly competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Betterfly
| When was Betterfly founded? | Betterfly was founded in 2018. |
| Where is Betterfly headquartered? | Betterfly is headquartered in Santiago, Chile. |
| Is Betterfly publicly listed? | No, Betterfly is a private, VC-backed company. |
| What is Betterfly's valuation? | Betterfly was last valued at $1B in its Series C in February 2022. |
| How much funding has Betterfly raised? | Betterfly has raised $205M across 5 funding rounds. |
| What was Betterfly's last funding round? | Betterfly's last funding round was a $125M Series C in February 2022, led by Glade Brook Capital Partners. |
| Who are Betterfly's investors? | Betterfly's investors include QED Investors, Endeavor Catalyst, Asiri, DST Global, Bio Ritmo, Mario Solari, Alma Mundi Ventures, Glade Brook Capital Partners, SoftBank Group, Impacta VC and 11 others. |
| Which companies are comparable to Betterfly? | Companies comparable to Betterfly include Thatch, Rightway, GoodRx, PayZen, Curative and Hapvida. |
| How many companies has Betterfly acquired? | Betterfly has acquired 9 companies, including minu, Seuvale, Flexoh, Xerpa and Hey Pay. |
| What was the largest acquisition by Betterfly? | The $100M acquisition of minu in June 2026 is the largest acquisition Betterfly has made to date. |
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