Chile-based Insurtech startup Betterfly extended its Series A funding round adding $9 million to a total of $17.5 million. In July, Betterfly announced it had raised $8.5 million.
Once again, QED Investors led the round.
A Public Benefit Corporation and certified B-Corp. that is 100% digital, Betterfly rewards a team’s healthy habits with charitable donations and no-cost life insurance coverage that grows over time. According to the company’s website, Betterfly has issued over USD $100 Million in life insurance. More than 70% of the Insurtech’s users are being insured with life coverage for the very first time.
Betterfly says it will use the funds to further develop its product offering and reach more businesses, providing its embedded insurance solution that brings health, wellbeing, and purpose into the workplace.
The Insurtech intends to expand across Latin America, with a focus on Brazil, a sizeable market.