Waspito, a Cameroonian startup, specialized in health technology, has announced it has raised investment of 1.7 billion FCFA (USD$2.8m). The fundraising, according to the startup, was made possible during an oversubscribed financing round by Launch Africa Ventures, Newtown Partners via the Imperial Venture Fund, Bloc Smart Africa administered by Bamboo Capital Partners, Orange Ventures, Saviu Ventures, Plug & Play and BingCom. It is unknown at this moment if these are equity investments or debt.
The Cameroonian company says the investment would be used to develop Waspito’s user base in Cameroon and expand its services in Côte d’Ivoire. Waspito will also expand its service offering to connect the African healthcare ecosystem online to relieve the shortage of doctors and other healthcare system difficulties on the African continent.
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“My great team has taken strides in the correct manner and this additional money will assist speed the implementation of our service,” said Jean Lobe Lobe, creator of Waspito. “ We are proud of the pool of investors that we are able to gather on this investment round. Their experience and network will bring value to our team as we continue this journey to solve the challenge of accessibility and affordability of access to healthcare in Africa”.
Waspito allows consumers to have a quick video consultation with doctors through their cellphones.
Additionally, Waspito provides mobile lab services through the platform with a lab worker collecting samples from consumers’ residences. They obtain their results digitally.
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Payment is reasonable and easy using mobile payments, debit cards or health insurance number. To date, the Cameroonian startup claims more than 15,000 people consulted via its platform.
Waspito health Waspito health
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer