€ 50 million Series B for Berlin-based health and fintech Nelly

Berlin — The Berlin-based health and fintech company Nelly has raised 50 million euros. With this Series B finan­cing, the company aims to drive forward the digi­ta­liza­tion of the Euro­pean health­care sector. The finan­cing round was led by Cathay Inno­va­tion toge­ther with Notion Capi­tal and exis­ting inves­tors b2venture, Lake­star, Motive Ventures and arc inves­tors. Nelly’s Finan­cial Opera­ting System for health­care is used by over 1,200 medi­cal prac­ti­ces to increase effi­ci­ency and digi­tize admi­nis­tra­tive and finan­cial proces­ses. With a focus on product expan­sion, geogra­phic expan­sion and incre­asing market share in Germany, Nelly is posi­tio­ning itself as a leading fintech in the Euro­pean health­care sector. While many indus­tries in Germany are strugg­ling with econo­mic chal­lenges, the health­care and tech­no­logy sector is booming. With the new funding, Nelly aims to acce­le­rate its mission to become Europe’s largest health­care fintech, drive inter­na­tio­nal expan­sion and further conso­li­date its posi­tion as a finan­cial opera­ting system for medi­cal prac­ti­ces. A study by McKin­sey & Company high­lights the urgent need for digi­tal trans­for­ma­tion in the health­care sector. Accor­ding to the study, 70% of health­care profes­sio­nals in Europe consider outda­ted admi­nis­tra­tive proces­ses to be a major obsta­cle to effi­ci­ency and pati­ent satisfaction.
Nelly’s Prac­tice and Pati­ent Portal and Finan­cial Opera­ting System (FinOS) were deve­lo­ped speci­fi­cally for medi­cal prac­ti­ces to opti­mize proces­ses such as pati­ent admis­sion, docu­ment manage­ment and payment proces­sing. By seam­lessly inte­gra­ting with prac­tice manage­ment soft­ware, Nelly makes it possi­ble to stream­line opera­ti­ons and give medi­cal profes­sio­nals more time for pati­ent care. Pati­ents also bene­fit from a fully digi­tal expe­ri­ence where they can manage their entire jour­ney — from check-in to payment — secu­rely from their smart­phone. Focus on product and geogra­phic expansion

Since the Series A round, Nelly has more than doubled its custo­mer base: the plat­form now digi­ti­zes proces­ses for over 1,200 medi­cal prac­ti­ces and two million pati­ents. As a result, Nelly has set new stan­dards for payment and admi­nis­tra­tive proces­ses in the health­care sector. The company is now plan­ning to further deve­lop its product and expand its offe­ring to new Euro­pean markets in order to streng­then its posi­tion as a leading fintech in the health­care sector. As part of its Euro­pean expan­sion, Nelly has recently ente­red the Italian market — a region facing simi­lar struc­tu­ral chal­lenges in the admi­nis­tra­tion and digi­ta­liza­tion of health­care. “One of our key invest­ment theses at Cathay Inno­va­tion is to iden­tify solu­ti­ons that sustain­ably improve effi­ci­ency in the health­care sector. At the same time, we are commit­ted to support­ing inno­va­tive fintech compa­nies that bring trans­for­ma­tive value to their indus­tries. We are proud to support Nelly in trans­forming medi­cal prac­ti­ces through new finan­cial and opera­tio­nal proces­ses. We look forward to acce­le­ra­ting their growth across the conti­nent and beyond,” says Jacky Abit­bol, Mana­ging Part­ner at Cathay Inno­va­tion.

“Notion is exci­ted to work with Nelly to deve­lop the next gene­ra­tion of opera­tio­nal and finan­cial products for hospi­tals. At Notion, we have alre­ady successfully part­ne­red with leading verti­cal soft­ware provi­ders such as Mews Systems (hospi­ta­lity sector) and Glofox (fitness sector),” said Itxaso del Pala­cio, Gene­ral Part­ner at Notion. About Nelly Solutions

Nelly revo­lu­tio­ni­zes the expe­ri­ence for pati­ents and health­care profes­sio­nals by auto­ma­ting admi-nistra­­tive proces­ses and payment flows in health­care. Foun­ded in 2021 by Niklas Radner, Lukas Eicher, Rasmus Schults and Laurids Seibel, the Berlin-based startup aims to mini­mize the admi­nis­tra­tive burden for doctors, medi­cal staff and pati­ents. As the first digi­tal facto­ring provi­der in the DACH region, Nelly offers a compre­hen­sive solu­tion that not only enables the digi­ta­liza­tion of pati­ent data, but also auto­ma­tes receiv­a­bles manage­ment for medi­cal prac­ti­ces. The plat­form offers a fully GDPR-compli­­ant digi­tal process — from pati­ent admis­sion to payment with just one click. Seam­less inte­gra­tion with exis­ting prac­tice manage­ment soft­ware and user-friendly opera­tion allows pati­ents to manage ever­y­thing secu­rely and effi­ci­ently via their smart­phone. https://www.getnelly.de/ https://www.getnelly.de/ About Cathay Innovation

Cathay Inno­va­tion is an all-stage growth venture capi­tal firm affi­lia­ted with Cathay Capi­tal that invests in foun­ders buil­ding trans­for­ma­tive compa­nies in Europe, North America, Asia, Latin America and Africa. The plat­form connects foun­ders with inves­tors and an ecosys­tem of leading Fortune 500 compa­nies to help start-ups scale and trans­form indus­tries with consu­mer and enter­prise solu­ti­ons and AI appli­ca­ti­ons in retail, fintech, digi­tal health and mobility/energy. Foun­ded in Paris in 2015, Cathay Inno­va­tion today mana­ges over €2.5 billion in assets under manage­ment (AUM) and has addi­tio­nal offices in Berlin, San Fran­cisco, Shang­hai and Singapore. 

www.cathayinnovation.com

About Notion Capital

Notion Capi­tal is a Euro­pean venture capi­tal inves­tor in B2B SaaS and cloud compa­nies with over $1 billion in assets under manage­ment and more than 100 invest­ments comple­ted. Notion’s team has foun­ded, built and sold two highly successful SaaS compa­nies — Star and Messa­geLabs. Notion’s port­fo­lio includes compa­nies such as GoCard­less, Mews, Paddle, Unba­bel and YuLife. https://www.notion.vc/

About Lake­star
Lake­star is one of the leading pan-Euro­­pean venture capi­tal firms. Foun­ded in 2012 by Klaus Hommels, Lake­star mana­ges a total volume of over €2 billion in four early-stage funds and two growth funds. Lake­star is curr­ently inves­ted in compa­nies such as Aleph Alpha, Auter­ion, Block­chain, Builder.ai, Colos­syan, GetY­our­Guide, Home­ToGo, Isar­Ae­ro­space, Neko Health, Revo­lut, senn­der and Terra Quan­tum. www.lakestar.com

About arc investors
arc inves­tors is an alter­na­tive invest­ment fund with a focus on B2B tech­no­logy compa­nies. With an entre­pre­neu­rial approach, arc drives inno­va­tion and growth at the inter­sec­tion of indus­try and tech­no­logy. arc works side-by-side with forward-thin­king entre­pre­neurs in Europe, the US and Israel and has offices in Zurich, London and Luxem­bourg. www.arcinvestors.com About b2venture
Foun­ded in 2000, b2venture is one of the most expe­ri­en­ced venture capi­tal firms in Europe. The group makes early-stage invest­ments via dedi­ca­ted funds and non-stage invest­ments via its direct invest­ment track. With offices in Berlin, Munich, St. Gallen, Luxem­bourg and Zurich, b2venture has backed compa­nies such as 1KOMMA5°, Black­lane, DeepL, Face­book, Food­spring, ORCAM, Raisin, SumUp and XING. About Motive Ventures
Motive Ventures is the early stage invest­ment arm of Motive Part­ners and specia­li­zes in finan­cial tech­no­logy invest­ments in North America and Europe. Motive Ventures is backed by globally reco­gni­zed finan­cial insti­tu­ti­ons, venture inves­tors, tech­no­logy entre­pre­neurs and indus­try experts. Toge­ther, they are on a mission to drive inno­va­tion and reshape the future of finance. The team curr­ently consists of 15 employees in offices in New York, Berlin, London and Amsterdam. 

Advi­sor Get Nelly: V14 advi­ses Nelly on Series B finan­cing round

Samuel Aebi and Sven Demar­c­zyk of the law firm V14 have advi­sed the Berlin-based health and fintech company Nelly on a EUR 50 million Series B finan­cing round.