Portuguese-Brazilian mental wellness app Zenklub raises €7 million

Zenklub tech.eu
annelise@tech.eu

Zenklub, a healthtech startup focused on the Brazilian market but founded by two Portuguese, has raised a €7 million Series A to prepare for further expansion across South America. The round was led by Brazilian asset manager SK Tarpon with strong support from the current lead investor, Lisbon’s Indico Capital Partners. Indico led the startup’s seed round last May.

Zenklub’s platform gives direct consumers (and increasingly corporates, to provide for their employees) mental wellness support in the form of personalised content and training tools. Users can also book online appointments with over 800 coaches, psychologists and therapists.

Business is booming. Founded in 2016, the company says clients grew by 515 percent from 2019 to 2020, with over 50 thousand online appointments happening per month.

Today, the company increasingly sees itself as a workplace solution. Zenklub works with HR departments from over 200 companies and its employees all over Brazil, a staggering 1683 percent increase versus 2019.

Investors have noted the pandemic is wreaking havoc on well-being and are flocking to such mental health startups. In the last month tech.eu has tracked four other funding deals tackling the same problem: Frankie Health, Spill, moka.care and Koa Health.

Commenting on this round, Stephan Morais of Indico said: “Zenklub is addressing the issue with digital inclusion and convenience and it can contribute significantly to improving the well being of millions of people, starting in South America.”

Photo: Co-founders Rui Brandão and Jose Simoes

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