BETTERFLY

Transform employee benefits into a wellness engagement engine -- combining guaranteed-issue life insurance, preventive health, and measurable participation.

Customer Engagement Growth Series C+

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Overview

Betterfly is a Latin American insurtech and employee benefits platform that combines voluntary life insurance with a digital wellness and engagement system. Founded in 2018 by Eduardo della Maggiora, Cristobal della Maggiora, and Todd Sullivan -- originally as the fitness app Burn to Give -- Betterfly reimagines employee benefits by rewarding healthy daily habits with growing life insurance coverage.

As employees engage in activities such as walking, exercise, meditation, and other positive behaviors, they earn Better Coins redeemable for charitable donations, marketplace rewards, and increased insurance coverage. The employer pays a flat monthly subscription fee; employees receive expanding protection at no personal cost. This B2B2C model positions Betterfly at the intersection of HR benefits technology, embedded insurance distribution, and corporate wellness.

Betterfly achieved unicorn status in February 2022 following its USD 125M Series C round led by Glade Brook Capital, reaching a USD 1B valuation and becoming the first B-Corp unicorn in Latin America. The company has expanded across 10+ countries in Latin America and entered Europe through the acquisition of Spanish fintech Flexoh and Brazilian startup SeuVale.

Products & Services

Smart Life Insurance

Group and individual life coverage that automatically grows as employees engage in healthy behaviors tracked through the platform. Underwritten by carrier partners (including Chubb). Coverage expands at no additional cost to employees.

Key Features

Guaranteed-issue coverage -- no medical underwriting required
Behavior-linked coverage growth (walking, exercise, sleep, meditation)
Supplemental critical illness and accident insurance
Hospital indemnity cash benefit
Digital claims submission

Target Users: Employers, HR teams, employees

Wellness Engagement Platform

Daily missions and health challenges that reward employees with Better Coins, driving year-round engagement beyond open enrollment.

Key Features

Activity and wellness tracking via integrations with Google Fit, Apple Health, and Strava
Better Coins rewards redeemable for charitable donations and marketplace perks
Biological age assessment and AI-driven health risk detection
Access to 68+ biomarker lab tests and physician consultations
Telemedicine and mental health resources
Financial and wellness education content

Target Users: Employees, HR and benefits administrators

Employer HR Dashboard

Real-time reporting and management portal for employers to monitor participation, track ROI, and manage enrollment across the platform.

Key Features

Multi-product enrollment management
Participation and engagement analytics
Employee health risk reporting
Broker portal with quoting and commission visibility

Target Users: HR administrators, benefits managers, brokers

Flexible Benefits (SeuVale)

Flexible benefits digital card allowing employees to allocate benefits funds across thousands of merchant partners. Acquired from Brazilian startup SeuVale (November 2022).

Target Users: Employers in Brazil and Latin America

At a Glance

Founded: 2018
Headquarters: Santiago, Chile
Employees: 201-500
Funding: Series C+

Category & Focus

Category: Customer Engagement
Subcategories: Employee Benefits Platform Embedded Insurance Wellness Technology
Insurance Verticals: Group Benefits Life & Annuity
Target Customers: Employers, Carriers, Brokers