Katapult, the Norway-based venture capitalist firm, gains its two accelerator-bred unicorns in a week. The two companies are Betterfly and Esusu.
Katapult first discovered and invested in Betterfly at the early Seed stage in mid-2019 with further investment via their follow-on fund in mid-2020. With Betterfly already reaching Unicorn status and $1 billion post-money valuation, this represents Katapult delivering globally leading, unrealised value for their investors.
Founded by Tharald Nustad in 2017, Katapult’s unicorn success, proves Nustad’s impact thesis that the largest opportunity for profit derives from investment in companies addressing real world problems. Speaking of Betterfly’s valuation, Nustad says, “Not only does Betterfly’s success speak to their ingenuity but it serves as further proof that the Katapult formula pays dividends.”
Founded by Eduardo and Cristóbal della Maggiora, Betterfly has created a platform that rewards healthy habits with charitable donations and life insurance protection that grows at no cost based on lifestyle choices that foster physical, mental, and financial wellbeing. Katapult’s Betterfly success swiftly follows Esusu’s $1 billion valuation. Founded by Samir Goel and Abbey Wemimo, Esusu provides a platform for users to obtain a credit score outside of traditional pathways.
Speaking of Katapult’s accelerator program, Goel says: “The Katapult experience helped us enter new markets and think critically about our product road map. Without Katapult, Esusu would never have been where it is today.”
On Katapult’s trajectory, Nustad says: “In backing diverse founders, addressing the most pressing issues, Katapult has developed a playbook for simultaneously delivering returns and contributing to the societal good. To see this come to fruition is highly rewarding and we anticipate further portfolio unicorns in the near future.”
As per reports, Katapult VC is now planning its next seed-and growth funds, with a focus on Climate, Ocean and Food-tech.