London located digital health and insurtech service provider, BIMA announced on 7th September, 2020, that it has raised around €25.3 million in a funding round.
Increased demand of health services due to the pandemic outbreak is the reason of further fundraising as argued by the company. The company claims that the consumers seeking access to insurance cover against life & health risks and telemedicine has doubled due to the current situation.
The funding round was led by CreditEase Fintech Investment Fund (CEFIF), which is a renowned Chinese fintech investor. Existing investors Allianz and Leap Frog Investments have both increased their Investment in BIMA.
The latest funding can allow the company to scale up its capabilities and increase the product range as demand continues to spike and deepen its footprint in African and Asian market.
The London based digital service provider was incorporated in the year 2010. Since then it has delivered 2 million tele-doctor consultations as claimed by the company. Its unique health hub approach has enabled its customers to access integrated health services consisting drug delivery, health programmes for dealing with chronic illness and even discount at pharmacies. Their innovative health wallet for paying medication related expenses has also been extended to hand sanitizer and masks during the coronavirus pandemic.
Founder & CEO of BIMA, Gustaf Agartson, explained, “The onset of COVID-19 has brought home the value of telemedicine, to help prevent the spread of disease, and the importance of insurance, for peace of mind. Through digital solutions, and a human touch, we’ve been able to serve hard to reach communities with tools and services that bring them a sense of security at such a challenging time. The funds we have raised will allow us to expand our operations and further invest in our product offering that will help us scale quickly to meet the unprecedented demand for our services.”
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