Zoie Health, a South African e-health startup, has successfully raised additional pre-seed extension funding to support its expansion and overall growth. The company, which is dedicated to providing a comprehensive digital wellness platform exclusively for women and managed by women, offers a range of services such as virtual consultations, in-home consultations, medication subscriptions, valuable resources, and a supportive community of women who can assist one another through various healthcare needs.
Currently, Zoie Health serves a membership base of over 5,000 individuals, boasting an impressive 80 percent subscriber retention rate. The company has achieved this success by effectively utilizing network effects, relatability, and fostering a sense of belonging within its community. Moreover, Zoie Health has already partnered with 50 healthcare practitioners and is now poised for further growth thanks to the recent funding it received from 4DX Ventures and E Squared Investments.
With the newly secured funds, Zoie Health intends to expand Africa’s first-ever digital women’s health clinic. The company plans to achieve this by broadening its product offerings and entering new markets across the continent. Thato Schermer, the co-founder and CEO of Zoie Health, expressed confidence in their ability to scale, stating, “We believe that our offering has great potential to expand, and we will be looking to enter other emerging African markets within the SADC region, as well as Kenya and Nigeria.”
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Gladwyn Leeuw, the Chief Investment Officer at E Squared, highlighted the impressive expertise of the Zoie Health founding team, emphasizing that it is entirely led by black women. Leeuw further stated, “This formidable team is building a high-impact tech solution that we believe will be a tremendous addition to our portfolio of companies, aligning with our values and generating significant returns. This extension of funding builds upon E Squared’s initial support through the E Squared Pathways facility.”
Leeuw expressed their hope that through this partnership, they can support digital innovation in women’s healthcare and make quality and affordable healthcare accessible to working-class women. They believe that incorporating digital components will enhance accessibility to traditionally hard-to-reach services and offer a viable alternative for those unable to take time off work or endure long queues at government clinics. It also addresses the financial challenges associated with accessing private sector healthcare, which can be prohibitively expensive for many.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard