Nelly wants to become the biggest fintech startup in the healthcare industry. The Berlin-based startup is already working with more than 1,200 medical practices in a handful of European countries. But there are thousands more that could benefit from an upgrade for their administrative workflows.
That’s why Nelly recently raised €50 million in funding (around $51 million at current exchange rates) in a Series B round led by Cathay Innovation, along with Notion Capital. Existing investors b2venture, Lakestar, Motive Ventures, and Arc Investors also participated once again.
While many industries have fully switched to digital workflows, Nelly’s founding team realized that many medical practices are lagging behind. “I went to the doctor, I had to fill in all my data with pen and paper. And then four weeks later, I received a thick letter with a request to pay €120,” Nelly co-founder and CEO Niklas Radner told TechCrunch.
The company started with a software-as-a-service product that lets medical practices onboard new patients digitally. Patients book an appointment and then receive a confirmation message via SMS, WhatsApp, or email with a link. They can click on that link and fill out their personal details and medical history.
“But the reality today is that more than 50% of all appointments are still not scheduled digitally. They are scheduled by a phone call or by just walking into the practice,” Radner said. That’s why patients can also scan a QR code to open Nelly’s portal from the waiting room.
Behind the scenes, Nelly integrates with existing practice management systems. Data is updated and stored in these legacy systems so that practices don’t have to switch to a new system altogether. These connectors are either built in house by the Nelly …