{"id":10147,"date":"2022-02-07T18:10:01","date_gmt":"2022-02-07T17:10:01","guid":{"rendered":"https:\/\/refinedng.com\/?p=10147"},"modified":"2022-02-07T18:10:09","modified_gmt":"2022-02-07T17:10:09","slug":"healthtech-startup-reliance-health-raises-40m-the-largest-of-its-kind-in-african-healthtech","status":"publish","type":"post","link":"https:\/\/refinedng.com\/healthtech-startup-reliance-health-raises-40m-the-largest-of-its-kind-in-african-healthtech\/","title":{"rendered":"Healthtech Startup Reliance Health Raises $40M, the Largest of its Kind in African Healthtech"},"content":{"rendered":"<body>\n<p><strong>Healthtech Startup Reliance Health Raises $40M, the Largest of its Kind in African Healthtech<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/refinedng.com\/wp-content\/uploads\/2022\/02\/Reliance-Health-1170x694.jpg\" alt=\"Healthtech Startup Reliance Health Raises $40M, the Largest of its Kind in African Healthtech\" class=\"wp-image-10148\" width=\"1163\" height=\"689\" loading=\"lazy\" srcset=\"https:\/\/refinedng.com\/wp-content\/uploads\/2022\/02\/Reliance-Health-1170x694.jpg 1170w, https:\/\/refinedng.com\/wp-content\/uploads\/2022\/02\/Reliance-Health-768x456.jpg 768w\" sizes=\"auto, (max-width: 1163px) 100vw, 1163px\" \/><\/figure><\/div>\n\n\n\n<p style=\"font-size:18px\">Nigerian heathtech startup Reliance Health has raised a $40M Series B round led by General Atlantic. This, according to <a href=\"https:\/\/techcrunch.com\/2022\/02\/07\/nigerian-healthtech-startup-reliance-health-raises-40m-led-by-general-atlantic\/\">TechCrunch<\/a> is the largest of its kind in African healthtech.<\/p>\n\n\n\n<p style=\"font-size:18px\">Other investors involved in the round include Partech, Picus Capital, Tencent Exploration, Africa Healthcare Master Fund, P1 Ventures, Laerdal Million Lives Fund and M3 Inc.<\/p>\n\n\n\n<p style=\"font-size:18px\">The company had previously raised $6 million Series A in January 2020, and a $2 million seed round months\u00a0post-YC in 2017, making a total of $48 million funds raised.<\/p>\n\n\n\n<p style=\"font-size:18px\">Reliance Health was founded in 2016 by\u00a0Femi Kuti,\u00a0Opeyemi Olumekun\u00a0and\u00a0Matthew Mayaki. The company uses an integrated process to provide health insurance and telemedicine via partnerships with hospitals and healthcare facilities.<\/p>\n\n\n\n<p style=\"font-size:18px\">Reliance Health provides users with an integrated suite of healthcare products via subscriptions. Some of the services are provided by Reliance Health directly\u2013 through its telemedicine platform, drug delivery system, and two clinics based in Lagos, Nigeria. Others are through third-party provider partners such as hospitals, diagnostic centres and pharmaceutical centres.<\/p>\n\n\n\n<p style=\"font-size:18px\">The startup operates business-to-business and business-to-customers models. RelianceHMO is the company\u2019s health insurance plan for both sets of customers where individuals can select monthly, quarterly or yearly health plans ranging from \u20a63,500 to \u20a6148,500. Businesses can also make subscriptions on behalf of their employees, a plan slightly cheaper than that used by retail customers.\u00a0<\/p>\n\n\n\n<p style=\"font-size:18px\">Over 200,000 individuals in total from both models use Reliance Health. The platform currently serves 600 business customers including Biersdorf Nivea, Jumia and PwC, while maintaining an attributable intention rate of 99%, according to Femi Kuti.<\/p>\n\n\n\n<p style=\"font-size:18px\">With the Reliance app, customers can chat with a doctor, find healthcare providers around them, get medications and manage the delivery of their drugs.\u00a0<\/p>\n\n\n\n<p style=\"font-size:18px\">On the new funding raised, Femi Kuti, the CEO disclosed that the company plans to build two more clinic facilities in Abuja and Port Harcourt. It also intends to hire talent and scale new product lines, especially for Nigerians in the diaspora.\u00a0The healthtech company will also expand into new markets \u2013 with Egypt topping the list. Before the year runs out, it also plans to expand to two or three more countries.<\/p>\n\n\n\n<p style=\"font-size:18px\">Learn more about reliance health on <a href=\"https:\/\/www.reliancehmo.com\/\">reliancehmo.com<\/a><\/p>\n<\/body>","protected":false},"excerpt":{"rendered":"<p>Healthtech Startup Reliance Health Raises $40M, the Largest of its Kind in African Healthtech…<\/p>\n","protected":false},"author":3,"featured_media":10148,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[121,251],"tags":[],"class_list":["post-10147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry","category-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/posts\/10147","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/comments?post=10147"}],"version-history":[{"count":1,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/posts\/10147\/revisions"}],"predecessor-version":[{"id":10149,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/posts\/10147\/revisions\/10149"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/media\/10148"}],"wp:attachment":[{"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/media?parent=10147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/categories?post=10147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/refinedng.com\/wp-json\/wp\/v2\/tags?post=10147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}