Singapore insurtech BetterTradeOff (BTO) is preparing to expand globally through partnerships with major banks and insurance companies looking to offer their customers the benefits of BTO’s life-planning tool through a white-label enterprise solution.
In addition, BTO plans to roll out both its direct-to-consumer ‘Up’ life planning platform and ‘Up Adviser’ software to new markets, following successful launches in Singapore. It also appointed Jeremie Bonnin to its board of directors, who will support its growth as it launches into new markets, the startup said in a statement on Thursday.
Bonnin was a founding member of media and telco conglomerate Altice Group, which has recorded $25 billion in revenues across Europe and the U.S. He relocated to Singapore in 2018, where he served as senior advisor to Altice’s founder and management team, while mentoring and investing in Southeast Asian startups eyeing international expansion.
Financial Planning at Scale
“With Covid-19 negatively impacting so many people, especially the poorest, we’re looking at partnerships that will allow us to make our solution available in more countries and to millions of more people, while bringing the power of sound financial planning to those who need it most,” Laurent Bertrand, BTO co-founder and chief executive, said.
BetterTradeOff was founded in 2015 and offers a software-as-a-service life planning solution that provides financial advisers with a collaborative digital platform for visualizing financial advice and building trust through transparency. It currently operates in Hong Kong, Singapore, Philippines, UAE, and Switzerland. The firm has raised $2 million in seed funding and has 15 staff based in Singapore.