According to a recent study by ApoBank, 91% of independent healthcare professionals desire less documentation and administrative work. The immense volumes of paperwork and bureaucratic regulations pose significant challenges in their day-to-day work. This subsequently has broader implications for public health, as the time consumed by these tasks detracts from providing optimal patient care.
Nelly, a fast-growing healthtech company in Europe, announced today it has raised a €15 million Series A. The round was led by Lakestar with participation from investors including b2venture and Motive Ventures. The infusion of new capital will be used to further accelerate its growth in Germany, develop additional products, deepen its fintech capabilities, as well as to expand into new medical verticals and markets.
“Our goal with Nelly is to relieve medical professionals from time-consuming administrative tasks and increase their job satisfaction. We are delighted to announce this milestone fund round which will support the expansion of our contemporary communication and secure payment platform for medical services. Our solution delivers proven benefits including reducing the risk of reminder fees, for example, via payment reminders by SMS and email,” explains co-founder and CEO Niklas Radner.
Founded in 2021, Nelly introduces an efficient digital solution for patient admission, invoicing, and payment. According to its founders, it is the first company that enables a fully digital patient journey in Europe, from check-in to check-out. Its platform seamlessly integrates with existing practice management software to provide a user-friendly approach to digitalizing medical administration work.
Nelly ensures the entire patient visit, from registration and medical history to signing documents and payment, can be effortlessly processed using patients’ smartphones – ultimately eliminating any disruptions in communication. This solution offers a first-of-its-kind “factoring” and billing product, enabling medical invoices to be delivered digitally and paid with a single click.
“We are delighted to lead the Series A funding round for Nelly. It’s an exceptional healthtech company revolutionizing the landscape of digital communication and billing. With Nelly’s platform already empowering over 450 practices and benefiting more than 350,000 patients, digitizing millions of crucial documents and invoices, we are truly excited about the transformative potential it holds for the healthcare industry,” says Lakestar Partner Oliver Heimes.
By digitizing all administrative steps involved in a practice visit, Nelly provides a comprehensive 360-degree solution for efficient management of administrative processes and financial payments. Nelly’s platform has already been digitizing an impressive volume of over 3 million documents and invoices. Moreover, Nelly offers the potential to reduce payment fees by 30% to 50%, facilitated by significantly minimizing expenses related to invoice creation, postage fees, and the current elevated costs associated with factoring.
