While many industries in Germany face economic challenges, the healthcare and technology sector is booming. Nelly, one of the fastest-growing health and fintech companies in Europe, today announced the successful completion of its €50 million Series B financing round. The round was led by Cathay Innovation along with Notion Capital as well as existing investors b2venture, Lakestar, Motive Ventures, and arc investors. These funds will accelerate Nelly’s mission to become Europe’s largest fintech for healthcare, drive international expansion, and solidify its position as the Financial Operating System for medical practices.
A study by McKinsey & Company highlights the urgent need for digital transformation in healthcare. According to the study, 70% of healthcare professionals in Europe view outdated administrative processes as a major barrier to efficiency and patient satisfaction.
Nelly’s Patient Experience Platform and Financial Operating System (FinOS) has been specifically developed for medical practices to streamline workflows such as patient intake, document management, and payment processing. By seamlessly integrating with practice management software, Nelly enables practices to optimize operations, giving medical professionals more time to focus on patient care. Patients also benefit from a fully digital experience, allowing them to manage their entire journey — from check-in to payment — securely via their smartphone.
Focus on Product and Geo Expansion
Since its Series A round, Nelly has more than doubled its customer base: the platform now digitalizes processes for over 1,200 medical practices and 2 Million patients and has set a new standard for payments and administrative workflows in healthcare. Now, the company plans to further develop its Product and expand its offering to new European markets to strengthen its position as the leading fintech in healthcare.
“The support of our investors not only underscores confidence in our team and business model but also in our ability to improve outcomes for healthcare professionals and patients” said Niklas Radner, co-founder and CEO of Nelly. “We are excited to continuously automise administrative workflows and enable process innovation to build the largest fintech in healthcare.” As part of its European expansion, Nelly recently entered the Italian market – a region facing similar structural challenges in healthcare administration and digitalization.
“One of the core investment theses at Cathay Innovation is to find solutions that improve efficiency in the healthcare space. We are also deeply committed to supporting innovative Fintech companies that bring transformative value to their industries. We are therefore extremely proud to support Nelly in transforming medical practices with new financial and operational processes. Meeting such an exceptional team has convinced us that they are uniquely positioned to become the leading bank for medical practices in the future. We are excited to help accelerate their growth across the continent and beyond”, says Jacky Abitbol, Managing Partner at Cathay Innovation.
“Notion is thrilled to partner with Nelly to help them build the next generation of operational and financial products for clinics. At Notion we’ve partnered with some of the leading vertical software leaders like Mews Systems (hospitality vertical) and Glofox (fitness vertical), and we’re excited to help Nelly scale and achieve their global ambitions. Their unique combination of software and fintech positions them exceptionally well to become a category leader in this space, and we’re eager to support their journey“, states Itxaso del Palacio, General Partner at Notion.
The new capital will be used to advance international expansion and to fund the development of additional product lines tailored to the evolving needs of healthcare providers. “Our vision is to become the largest fintech in healthcare, delivering unparalleled value to healthcare providers and patients alike,” Radner concludes.
Read the orginal article: https://ffnews.com/newsarticle/nelly-announces-eur-50-million-series-b-funding-round-to-revolutionize-financial-operations-in-healthcare/
