Betterfly

Market position

Betterfly describes itself as the number one protection and benefits platform in Latin America, present in 8 countries and used by more than 2,000 enterprise clients across Latin America and Europe. Third-party sources describe it as a leading Latin American insurtech, the region's first B Corp certified unicorn and the third Chilean unicorn after Cornershop and NotCo, and rank it among the top startups in Chile and in the insurance category.

Betterfly positions itself as combining insurance, wellness and engagement in one platform rather than separate tools, with coverage employees select themselves from an employer-configured catalog, guaranteed-issue enrollment without forms or medical exams, flexible monthly administration, premium discounts and rewards tied to healthy behavior, preventive health data included at no extra cost, and reporting on adoption, utilization, engagement and ESG. A further differentiator claimed is the social-impact mechanic converting employees' healthy habits into NGO donations, alongside B Corp certification cited in Series C coverage.

Technology

A web administration portal for employers and a mobile app for employees, featuring gamification (missions, challenges, points, team rankings), rewards and a marketplace, social and real-time communication tools, analytics on adoption, utilization, engagement and ESG, and integrations with HR management systems and, in the U.S., HRIS, payroll and HSA/FSA administration. The U.S. offering also cites an AI health agent, AI-driven risk detection, biological age assessment and lab/biomarker panels feeding a personalized health roadmap.

Go-to-market

Betterfly sells business-to-business to employers and HR teams, using demo requests and direct contact with sales specialists on its websites, supported by content marketing (blog, webinars, ebooks). In the U.S. it additionally runs a broker channel with a pilot partner program offering dedicated onboarding and sales support, priority access to a Broker Portal, co-marketing and a broker resource toolkit; brokers can quote multiple products, monitor enrollment in real time and track pipeline and commissions in one portal.

Employers and HR teams of all sizes seeking employee benefits, insurance and wellness programs, their employees as end users, and, in the U.S., insurance brokers who distribute the products to client companies.

Geography

The company states it is present in 8 countries and describes itself as the leading protection and benefits platform in Latin America. Its site lists offices in Chile (Av. Apoquindo 4800, Las Condes, Santiago) and Mexico (Periférico Blvd. Manuel Ávila Camacho 201, Polanco, Mexico City). Seedtable lists Santiago, Chile as headquarters. Series C coverage cited existing operations in Chile and Brazil with announced expansion into Mexico, Colombia, Argentina, Peru, Ecuador, Panama, Costa Rica, the United States, Portugal and Spain, and plans for a global hub in Miami. A dedicated U.S. site markets the platform to American employers and brokers.

History

According to Seedtable, Betterfly was founded in 2018 in Santiago, Chile by Eduardo della Maggiora, with Cristobal della Maggiora listed as co-founder. It raised a $17.5 million Series A led by QED Investors in December 2020, a $60 million Series B in June 2021 led by DST Global (bringing equity raised to $80 million), and a $125 million Series C in February 2022 led by Glade Brook Capital at a $1 billion post-money valuation — making it, per contemporaneous coverage, the third Chilean unicorn and the first Latin American B Corp certified company valued above $1 billion. At the time of the Series C the company operated in Chile and Brazil and announced plans to open in Mexico, Colombia, Argentina, Peru, Ecuador, Panama and Costa Rica during 2022 and in the United States, Portugal and Spain in 2023, along with a global hub in Miami. Seedtable also records an acquisition of Minu valued at $100 million dated June 2026.

Risks & controversies

The sources contain no reports of controversies. Data limitations are notable: revenue figures are third-party estimates, the listed 2026 acquisition of Minu is reported only by an aggregator, and headcount and funding recency data come from a single aggregated profile. One retrieved source describing a 'Betterfly' acquired by TakeLessons in 2014 (an education company backed by Chicago Ventures) refers to a different company and was excluded.