Nelly, a healthtech company based in Germany, has announced a successful €15 million Series A funding round. The investment was led by Swiss venture capital firm Lakestar, known for its investments in major tech companies such as Revolut, Spotify, and Robinhood. Additional participation came from Swiss VC b2venture and US-based Motive Ventures.
The newly secured capital will fuel Nelly’s expansion in Germany, support the development of new products, enhance its fintech capabilities, and facilitate expansion into new medical verticals and markets.
Reduces admin tasks
According to a recent study, 91% of independent healthcare professionals express a desire for reduced documentation and administrative tasks. The excessive paperwork and bureaucratic regulations involved in their daily work pose significant challenges, ultimately affecting the quality of patient care.
Fully digital patient journey
Nelly aims to address this problem by introducing a digital solution for patient admission, invoicing, and payment. It claims to be the first company in Europe to enable a fully digital patient journey, from check-in to check-out. The platform seamlessly integrates with existing practice management software, providing a user-friendly approach to digitalising medical administration. Nelly ensures that the entire patient visit, including registration, medical history, document signing, and payment, can be effortlessly processed using patients’ smartphones, eliminating communication disruptions. Additionally, the company offers a unique “factoring” and billing product, enabling medical invoices to be delivered digitally and paid with a single click.
By streamlining the check-in and check-out processes, Nelly’s digital platform simplifies administrative tasks for both medical professionals and patients. It establishes a seamless connection between practice management software and patients, offering a comprehensive solution for efficient management of administrative processes and financial payments. Already adopted by over 450 practices, Nelly’s platform benefits more than 350,000 patients, digitising over 3 million documents and invoices. Furthermore, the platform has the potential to reduce payment fees by 30% to 50% by minimising expenses related to invoice creation, postage fees, and factoring costs.
GDPR-compliant digital process
Founded in 2021 by Laurids Seibel, Rasmus Schults, Niklas Radner, Lukas Eicher, Tobias Heuer, Nelly’s platform also provides a fully GDPR-compliant digital process for medical practices, enabling patient admission, treatment contract signing, invoice delivery, and payment through a specialised e-signature system. The platform is already utilised by more than 450 practices and 350,000 patients, digitising over 3 million documents and invoices.
Co-founder and CEO of Nelly, Niklas Radner, expressed excitement about the milestone funding round, highlighting the company’s goal to relieve medical professionals from time-consuming administrative tasks and improve job satisfaction. “Our goal with Nelly is to relieve medical professionals from time-consuming administrative tasks and increase their job satisfaction. We are delighted to announce this milestone fund round which will support the expansion of our contemporary communication and secure payment platform for medical services. Our solution delivers proven benefits including reducing the risk of reminder fees, for example, via payment reminders by SMS and email,” explains co-founder and CEO Niklas Radner.
“We are delighted to lead the Series A funding round for Nelly. It’s an exceptional HealthTech company revolutionising the landscape of digital communication and billing. With Nelly’s platform already empowering over 450 practices and benefiting more than 350,000 patients, digitizing millions of crucial documents and invoices, we are truly excited about the transformative potential it holds for the healthcare industry,” says Lakestar Partner Oliver Heimes.”