Carey Olsen advises minu on milestone sale to Betterfly
Carey Olsen has advised Mexican employee benefits startup minu on its sale to Miami-based insurtech unicorn Betterfly, establishing Mexico's most comprehensive employee benefits platform that will serve more than one million workers.
In one of Latin America's largest startup deals to date, the transaction brings together health, insurance and financial wellness solutions under one platform. It expands Betterfly's reach to more than one million employees across 4,000 companies, while accelerating its expansion into the United States.
Founded in 2019, Minu is Mexico's leading employee wellness platform that focuses on improving financial wellbeing through tools such as earned wage access, insurance products, and flexible employee benefits. With Betterfly, Latin America's leading insurance and employee benefits platform, the combined business aims to deliver a comprehensive platform designed to meet the evolving needs of today's workforce.
The Carey Olsen Cayman Islands corporate team advising minu on the transaction comprised partner Trevor McCabe and senior associate Evan Stitt, alongside White & Case LLP.
Trevor McCabe commented: "We are pleased to have worked with minu since its foundation and to have supported the team on this major startup-to-startup acquisition, a significant milestone in its growth journey. The transaction reflects the growing maturity of the Latin American venture capital market. As capital markets remain selective, strategic M&A is becoming an increasingly important driver of growth and liquidity across the region."
