Vienna-based InsurTech company hi.health has successfully raised €6m in its pre-Series A financing round. The funding comes in the wake of high investor interest, with notable existing investors such as SpeedInvest and Calm/Storm participating alongside new international investors Haymaker Ventures, Fin VC, and Nina Capital. This financing round marks a pivotal moment for hi.health as it seeks to scale its workforce, diversify its product line, and bolster its market footprint across Europe.
Simplifying the Reimbursement Process for Insured Individuals
One of hi.health’s main objectives is to simplify the reimbursement process for insured individuals, offering a streamlined approach to billing and ensuring a quicker and more accessible process for medical expenses. With its innovative digital solution, hi.health aims to revolutionize the way health insurance claims are handled.
The startup’s user-friendly app facilitates seamless invoice submission and takes care of subsequent processing, billing, and customer service. This not only reduces the administrative burden on insured individuals but also ensures a hassle-free experience. By leveraging technology, hi.health has created a platform that eliminates complexities and bottlenecks in the reimbursement process, ultimately improving customer satisfaction and efficiency.
Expanding into New Areas of the Healthcare Market
With the newly acquired funding, hi.health plans to cultivate new partnerships and extend its services to pharmaceutical firms and providers of doctor software in the future. By expanding into these areas, hi.health aims to offer a more comprehensive range of digital services and strengthen its position at the intersection of insurtech and fintech.
Sebastian Gruber, co-founder and CEO of hi.health, expressed his enthusiasm about the fresh capital, stating, “The funding now gives us the opportunity to further expand our great team and offer partner companies and users even more digital services from hi.health in the future.” This expansion will not only benefit hi.health but also contribute to the growth and advancement of the InsurTech ecosystem.
Recognizing the Potential of Hi.health’s Unique Solution
Markus Lang, Partner at SpeedInvest, acknowledges hi.health’s unique solution at the interface between InsurTech and FinTech. He notes, “hi.health has developed a unique solution for the interface between InsurTech and FinTech and has shown the potential of this market over the past few years.” This recognition highlights the significant market potential for hi.health’s digital platform and the promising future prospects for the company.
Improving the Payment Process Significantly
Phin Upham, managing partner of Haymaker Ventures, commends hi.health’s technology and its impact on the payment process. Upham remarks, “With the help of its technology, hi.health is improving the payment process enormously.” This endorsement further emphasizes the effectiveness of hi.health’s solution and its ability to bring about meaningful change in the industry.
Growing Confidence in the Lucrative Health Insurance Market
The successful funding round and expansion plans of hi.health clearly indicate the growing confidence in the lucrative health insurance market. As technology continues to transform various industries, InsurTech companies like hi.health are at the forefront of innovation, addressing pain points and enhancing customer experiences. With its streamlined billing and reimbursement solution, hi.health is poised to make a significant impact on the health insurance sector.
In summary, Vienna-based InsurTech hi.health has secured €6m in a pre-Series A financing round, paving the way for its expansion across Europe. With the funding, hi.health aims to simplify the reimbursement process for insured individuals, strengthen its market presence, and diversify its product line. The endorsement from notable investors highlights the potential of hi.health’s unique solution, as it continues to make strides in the InsurTech and FinTech space. The funding and expansion plans showcase growing confidence in the health insurance market and the promising future of hi.health’s digital platform.
