The startup will continue operating in Chile, Spain, and Mexico—where it generates 94% of its revenue—and will cease operations in Peru, Colombia, Ecuador, Argentina, and Brazil.

Chilean startup Betterfly—which offers management services for companies and became a unicorn in 2022—has decided to close its operations in five countries and lay off employees.

According to Diario Financiero , at least 30 employees were laid off.

The company founded by Cristóbal and Eduardo della Maggiora will continue to operate in Spain, Mexico, and the rest of the country—where it generates 94% of its revenue—but not in Peru, Colombia, Ecuador, Argentina, and Brazil.

The United States, he explained, represents a more strategic market than those five countries where he will no longer offer services. Therefore, he will focus on investing resources "in the most impactful opportunities."

"As part of this process, we are restructuring the company to specialize our teams in health, prevention, and insurance, in addition to concentrating efforts and resources on strategic markets and expanding into the US," Betterfly emphasized, as quoted by Diario Financiero.

Regarding the layoffs of 30 employees, the startup argued that during the aforementioned restructuring process, it decided to "optimize the organization and define the necessary team to operate more efficiently."

This is not the first time Betterfly has made impact adjustments.

In previous years, it also had to lay off workers, and in 2023, it ended the "unlimited vacation" benefit.

On that same occasion, he informed his teams that salary increases would be reviewed only once a year.

It is worth remembering that in March 2024, Betterfly announced that in just three years it reached one million paying users.