Founders Factory Africa (FFA) has announced a significant boost in its investment in Athena, injecting an additional $150,000 into the innovative healthcare financing platform. This latest infusion brings FFA’s total investment in Athena to an impressive $250,000.
Over the past year, Founders Factory Africa has collaborated closely with Athena’s founder, Jabulani Nyembe, to foster the growth of the company from a conceptual stage to a fully operational business with a market presence and a growing customer base.
Athena, established in 2022 and headquartered in Johannesburg, is revolutionizing healthcare financing by allowing patients to pay for medical procedures in interest-free installments. The platform ensures that healthcare practitioners receive upfront payments, mitigating the risk of bad debts and facilitating a more stable financial environment for medical professionals.
One of Athena’s key features is its commitment to providing more affordable options for individuals to access the private healthcare system in South Africa. At a time when innovative solutions are crucial for addressing healthcare challenges in the country, Athena’s approach aligns with the pressing needs of the population.
“If you’re either a Patient or Doctor, check-it out here,” encouraged Founders Factory Africa in their announcement, emphasizing the platform’s potential benefits for both healthcare consumers and providers.
Athena’s unique model allows patients to receive and accept their repayment terms, making the financial aspect of healthcare more manageable. By paying the first installment, patients can initiate their coverage, proceed with their medical procedure, and Athena takes the responsibility of settling the full amount owed to the healthcare practitioner. Repayment to Athena is then spread over 3 or 6 months, offering flexibility and easing the financial burden on patients.
In a statement, Founders Factory Africa expressed their excitement about the progress made with Athena and their commitment to supporting innovative solutions that address critical challenges in the healthcare sector. The investment not only reflects confidence in Athena’s business model but also signals Founders Factory Africa’s dedication to fostering impactful ventures in the African startup ecosystem.
As Athena continues to pave the way for accessible and affordable healthcare financing, the collaboration with Founders Factory Africa serves as a testament to the potential of such partnerships in driving positive change in the healthcare landscape.
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.