Health technology company Nelly secures €50 million in Series B funding to transform administrative and financial operations within the healthcare industry

Nelly Secures €50 Million Funding Round for International Expansion

In a significant move for the medical fintech industry, Nelly, a rapidly growing digital factoring provider, has announced the closure of a €50 million funding round. The investment, led by Cathay Innovation, aims to support Nelly's international expansion and the development of new product lines tailored to the current and future needs of healthcare providers.

Jacky Abitbol, Managing Partner at Cathay Innovation, expressed pride in supporting Nelly's mission to transform medical practices through state-of-the-art financial and operational processes. Cathay Innovation, a global multi-stage venture capital fund, manages over $2.5 billion in assets and is present in Paris, Berlin, San Francisco, Shanghai, and Singapore.

Nelly, based in Berlin, has already made a significant impact in the DACH region, becoming the first digital factoring provider to offer a comprehensive solution for the digitization of patient data and automation of claim management for medical practices. The company has digitized 30 million paper documents and digitally processed over 2 million patients, saving hundreds of thousands of hours in the healthcare sector.

Niklas Radner, co-founder and CEO of Nelly, expressed his gratitude for the support of investors, stating that it underscores their confidence in the team and business model. The funding round also saw participation from Notion Capital, b2venture, Lakestar, Motive Ventures, and Arc Capital Partners.

The funds raised will be used to further develop Nelly's solutions and expand into new European markets, with the ambition to become a major player in medical fintech and multiply the automation of administrative processes. Nelly's patient experience platform and financial operating system (FinOS) have been designed to streamline operations such as patient admission, document management, and payment processing. By integrating with practice management software, FinOS optimizes workflows and operations, giving healthcare professionals more time to focus on patient care.

The platform provides a fully compliant, end-to-end digital process from patient welcome to one-click payment, in accordance with GDPR regulations. As of now, 2 million patients have benefited from a fully digital experience for their entire journey, securely and from their smartphone.

Nelly's entry into the Italian market comes at a time when the country faces similar structural challenges. The company's innovative solutions are poised to address these challenges and improve the efficiency of medical practices across Europe.

The integration with Medatixx's software, supported by Medatixx HealthHub in Nelly's final funding round of 50 million euros, further strengthens Nelly's position in the medical fintech industry. A McKinsey & Company study validated the need for such a platform, finding that 70% of European professionals consider administrative processes outdated and a barrier to patient satisfaction.

As Nelly continues to grow and expand, it is set to revolutionize the medical fintech industry, offering a more efficient, digital, and patient-centric approach to medical practices.

Health technology company Nelly secures €50 million in Series B funding to transform administrative and financial operations within the healthcare industry