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About Chilebased betterfly 60m softbank
It’s fitting that SoftBank would back a Chilean startup: the country is often referred to as the “startup nation” thanks to its strong entrepreneurial culture. Chilebased Betterfly 60m Softbank startup that operates a platform for booking services like hair appointments and massages, has raised $60 million in Series B funding led by SoftBank’s Latin America Fund. The round also included participation from existing investors ALLVP and monarchies. With the new funding, Betterfly plans to expand into new markets in Latin America and beyond. And with SoftBank’s backing, it just might take off.
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Insurtech Betterfly raises $60M Series B
Insurtech company Betterfly has raised a $60 million Series B round of funding, the company announced today. The round was led by Insight Partners, with participation from American Family Ventures and G2VP.
The betterfly is a digital platform that helps insurance consumers compare and purchase policies. The company says that it offers users a “personalized shopping experience” and that it provides “instant quotes from over 50 insurance carriers.”
The company was founded in 2016 and is headquartered in New York City. Betterfly says that it has raised a total of $88 million in funding to date.
“We are thrilled to have the support of Insight Partners as we continue to grow our business,” said a statement. “This new funding will allow us to further invest in our technology and expand our team so that we can continue to provide an exceptional experience for insurance shoppers.”
SoftBank Makes First Foray Into Chile in Betterfly Funding Round
While many startups have been looking to establish a foothold in Chile in recent years, it seems that one Japanese conglomerate has beaten them to the punch. SoftBank Group Corp. has made its first investment in the South American country via a $5 million funding round for local startup Betterfly.
Though best known for its massive $100 billion Vision Fund, SoftBank has been active in making smaller investments in individual companies via its $5 billion Latin America Fund. This is the first time, however, that the Japanese conglomerate has directly invested in a Chilean startup.
A betterfly is a Santiago-based online platform that connects service providers with customers. The company will use the new funding to expand its operations into Brazil and Mexico. With SoftBank’s backing, Betterfly is well on its way to becoming the go-to platform for services in Latin America.
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