Munich healthtech startup Wellster has just announced a €17.5 million funding injection, just 6 months after raising €35 million. With this, Wellster will close its Series B.
The new funding is led by Claret Capital, alongside VC VC Mangrove Capital Partners, and cements Wellster in pole-position as one of Europe’s best-funded integrated healthcare company’s.
Wellster was founded in 2018 by Dr Manuel Nothelfer and Nico Hribernik with the vision to provide more people with easy access to effective medical treatments for everyday health issues.
The young startup launched in May 2019 and already has served over 1.5 million patients with over 1.3 million telemedical consultations. Moreover, in the past 12 months, the startup has seen revenue growth of over 200%.
Dr. Manuel Nothelfer, co-founder of Wellster Healthtech Group, said: “The funding round comes at a key moment in our development, it cements our ambition to continue our established leadership in the European market and expand our offering to more people in need of personalized, in-home healthcare services.”
Promoting easy access to medical care alongside prioritising patients needs are at the heart of the Wellster mission, and underscore each of the different platforms on offer – gospring.de (men’s intimate health), myspring.com (men’s hair loss), helloeasy.de (mental health), easyderma.de (skin health) and easy-testen.de (medical self-tests).
To this end, the company partners closely with leading medical professionals to ensure the highest standards for in-home healthcare.
The global digital health market is expected to reach a value of $768 billion by 2030. Wellster’s fully-integrated digital health solution is currently providing direct-to-consumer treatments through two sub-brands: Spring (overseeing men’s health) and Easy (overseeing medical testing and mental health).
Wellster focuses on topics that people sometimes feel uncomfortable talking about – creating a platform where no health topic is taboo. Patients are empowered to get medical advice on anything and everything, from intimate health to hair loss to psychological stress. On the Spring and Easy platforms, patients can fill out questionnaires or arrange video consultations; prescriptions are issued online by a doctor and sent discreetly to the patient’s home. In doing, so, Wellster has closed a huge gap in the health system – it’s estimated that in Germany alone, 63% of patients have never consulted a doctor with their intimate issues.
This one’s for the girls.
This fresh injection of funding will be used to launch the femtech healthcare brand across Europe, accompanying their male-focused service, Spring. This new service will offer treatments for a range of intimate and lifestyle health concerns.
Co-founder Nico Hribernik said: “Our multi-platform service allows us to tailor personalized treatments to people with different types of healthcare needs. This allows us to better address individual health problems, which ultimately leads to higher treatment success rates, as well as more trust among patients.”