Founders Dr. Manuel Nothelfer and Nico Hribernik
MUNICH, January 18, 2022 – Wellster Healthtech Group, Europe’s leading digital healthcare platform, announces today a further $20M in funding, just six months after raising a $40M. With this, Wellster closes its series B.
The latest funding is provided by Claret Capital Partners, an investor in the FemTech platform Bellabeat and Europe and Israel tech VC Mangrove Capital Partners whose other healthtech investments include K Health. This investment cements Wellster’s position as Europe’s best-funded integrated healthcare company.
The last funding in July 2021 was led by investors Dermapharm and HV Capital.
Europe’s leading fully-integrated digital health solution, used by 1.5 million people
Wellster integrates telemedicine with digital services, to provide patients with direct access to treatment for everyday health issues—such as mental health, reproductive health, hair loss and skin conditions. To date, it has served over 1.5 million patients since its online launch in May 2019.
Ease of access to medical care, and the prioritisation of patients’ needs, are at the centre and USP of Wellster’s platforms. The Munich-based HealthTech company partners closely with Germany’s leading medical professionals, to provide the highest standards for in-home healthcare.
The shared vision of co-founders Dr. Manuel Nothelfer and Nico Hribernik, is to build the largest and most caring healthcare company in Europe by being the first patient touch-point for in-home healthcare.
Wellster to launch FemTech healthcare brand across Europe
Wellster intends to use the $20M funding, alongside the $40M raised in June 2021, to launch a women’s healthcare brand to accompany their male-focused service, Spring. This new service will offer treatments for a range of intimate and lifestyle health concerns.
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.Dr. Manuel Nothelfer, co-founder of Wellster Healthtech Group
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.adds co-founder Nico Hribernik
With our ambition to become the European market leader in health tech, we plan to use this latest funding round to launch our femtech platform. “We believe that our strong existing customer base, European roots, and experience with EU regulations, provide us with a significant advantage over businesses looking to enter the market from overseas.”says Dr Nothelfer
Despite digital healthcare being a massive market opportunity, the incumbents do a poor job of serving patients. We’re pleased to partner with Manuel and Nico on the mission to build a leading brand that cares about patient outcomes through the simplification and personalisation of healthcare treatments.Bryan McLoughlin, Principal, Claret Capital Partners
Given its sheer size, the potential for value creation in the healthcare sector is second to none. What makes Wellster particularly attractive is the combination of a compelling direct-to-consumer health proposition and the very strong team with the ambition to disrupt the huge European health market. Both are great fits with our investment thesis.Hans-Juergen Schmitz, Managing Partner, Mangrove Capital Partners