A digital health and insurtech services provider to emerging markets has secured (£22.8m) $30m in further investment.
London and Sweden-based BIMA claims that COVID-19 has been a catalyst for its technology, and has seen consumers seeking increased access to telemedicine and insurance cover against life and health risks.
Chinese FinTech investor CreditEase Fintech Investment Fund (CEFIF) has invested in BIMA for the first time, while existing shareholders LeapFrog Investments and Allianz have both increased their investment.
The new capital will be used to expand the firm’s product offering, scale its capabilities and deepen its footprint in Asia and Africa.
BIMA customers have access to a set of integrated health services, including health programmes for managing chronic illnesses, discounts at pharmacies and drug delivery.
It also offers a ‘health wallet’ to fund medication-based expenses, which has been extended to masks and hand sanitisers during the pandemic.
Gustaf Agartson, founder and CEO at BIMA, said: “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.”