Berlin-based health and fintech company Nelly has raised €50 million Series B.
Founded in 2021, Nelly minimises the administrative burden for doctors, medical staff, and patients. As the first digital factoring provider in the DACH region, the company offers a comprehensive solution that not only enables the digitalisation of patient data but also automates receivable management for medical practices.
Seamless integration with existing practice management software and user-friendly operation allows patients to securely and efficiently manage everything via their smartphone.
Nelly has already digitised 30 million paper documents and digitally processed over 2 million patients, saving an average of 10 minutes per patient. This translates into hundreds of thousands of hours saved in the healthcare sector.
Nelly’s Financial Operating System for Healthcare is already used by over 1,200 medical practices.
The platform provides a fully GDPR-compliant digital process, from patient intake to payment with a single click.
Now, the company plans to develop its product further and expand its offering to new European markets to strengthen its position as the leading fintech in healthcare.
According to Niklas Radner, co-founder and CEO of Nelly:
“We are excited to continuously automate 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 digitalisation.
Cathay Innovation led the round, along with Notion Capital as well as existing investors b2venture, Lakestar, Motive Ventures, and arc investors.
According to Jacky Abitbol, Managing Partner at Cathay Innovation:
"One of the core investment theses at Cathay Innovation is to find solutions that improve efficiency in the healthcare space.
Meeting such an exceptional team as Nelly has convinced us that they are uniquely positioned to become the leading bank for medical practices in the future.”
“Nelly's 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.
Lead image: Nelly. Photo: uncredited.
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