Nelly wants to become the hugegest fintech beginup in the healthnurture industry. The Berlin-based beginup is already toiling with more than 1,200 medical trains in a handful of European countries. But there are thousands more that could advantage from an enhance for their administrative toilflows.
That’s why Nelly recently liftd €50 million in funding (around $51 million at current swap rates) in a Series B round led by Cathay Innovation, aextfinished with Notion Capital. Existing spreadors b2venture, Lakestar, Motive Ventures, and Arc Investors also joind once aacquire.
While many industries have filledy switched to digital toilflows, Nelly’s set uping team genuineized that many medical trains are lagging behind. “I went to the doctor, I had to fill in all my data with pen and paper. And then four weeks tardyr, I getd a heavy letter with a ask to pay €120,” Nelly co-set uper and CEO Niklas Radner telderly TechCrunch.
The company begined with a gentleware-as-a-service product that lets medical trains onboard novel acunderstandledgeings digihighy. Patients book an assignment and then get a validateation message via SMS, WhatsApp, or email with a join. They can click on that join and fill out their personal details and medical history.
“But the truth today is that more than 50% of all assignments are still not scheduled digihighy. They are scheduled by a phone call or by equitable walking into the train,” Radner said. That’s why acunderstandledgeings can also scan a QR code to discomit Nelly’s portal from the postponeing room.
Behind the scenes, Nelly joins with existing train deal withment systems. Data is refreshd and stored in these legacy systems so that trains don’t have to switch to a novel system altogether. These joinors are either built in hoinclude by the Nelly team or growed by Nelly’s partners.
This onboarding system acts as the backbone for the rest of the product suite. “You could see Nelly as, let’s say, a Typecreate/DocuSign/structurener for medical trains,” Radner said.
On the acunderstandledgeing-side, in insertition to online bookings and the onboarding features, acunderstandledgeings can pay medical trains using online payments or Nelly-deal withd card readers. Patients can also get reminders to depart a appraise on Google Maps.
As for medical trains, Nelly can deal with invoices and billing. This part can save meaningful time for medical trains, as it can direct to spfinishing less time chasing out-of-pocket payments.
Nelly can also be included as an changenative to a corporate bank account with an expense deal withment system and corporate acunderstandledge cards. Finpartner, Nelly presents factoring for instant payouts of extrastandard claims.
These strong integrations in the acunderstandledgeing journey and into the medical train’s back-office system originate a barrier to entry for other fintech companies. Nelly has also gone thraw data getion certifications as well. “We are the first company that sent digital invoices in the medical space in Germany,” Radner said.
The product is currently includeable in Germany, Austria, and Switzerland. It recently broadened to Italy, and there are more countries coming down the road.
“Nelly toils with the hugest DSOs [dental service organizations] in Europe … And we won the deal for the Colosseum Dental Group, which runs in 11 European countries. And they want to scale to their 700 locations with Nelly,” Radner said. “So we’re going to broaden with our customers to more tagets in Europe.”
