African Digital Health Underwriter Eden Care Raises New Funding
DOB Equity, Seedstars International, Norrsken Foundation, and Bathurst Capital have invested in Eden Care, a licenced Rwanda-based digital insurer, in a pre-seed fundraising round.
“The health insurance market in East Africa is ripe for disruption that delivers consumers better value and ultimately better healthcare provision. We see Eden Care as having what it takes to deliver that increase in value and service for consumers,” Arnold Mwangi, Investment Professional at Nairobi-based Dutch impact investment firm DOB Equity, said.
“Eden Care was founded to create the kind of health insurance we wanted for ourselves — one that is affordable and doesn’t require filling 6 pages of documents at the hospital and a three-hour wait time. One where we can easily see our benefits and provides wellness tools, community, and incentives to enable us to get and stay healthy. We are excited to add aligned investors to our cap table,” Moses Mukundi, CEO and Founder of Eden Care, said.
“DOB is excited to partner with Eden Care to transform health insurance in Rwanda. By digitizing insurance processes and providing a wellness-first insurance cover to employers, Eden Care is making quality health insurance accessible to an underserved market — growing SMEs and businesses,” Arnold Mwangi, Investment Professional at DOB Equity, added.
A Look At What Eden Care Does
Eden Care, launched in 2021 by Moses Mukundi, aims to disrupt the inefficient provision of health insurance in East Africa, with a digital-first solution, which saves consumers money by disintermediating insurance brokers.
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The startup is a digital health underwriter that is redefining healthcare by diverting data and money to the demands of the modern African customer. Its method makes use of technology and data science to help members navigate the healthcare system with ease. The end result provides a better member experience, decreases costs, invests in preventive and wellness, and improves health outcomes.
Later this year, Eden Care promises to offer free telemedicine to its members, cutting administration costs by half and allowing Eden Care to provide more value to a member’s health than incumbent brokers.
Higher health spending and rising private health insurance penetration give Eden Care with a major opportunity as Africa moves to middle-income status over the next decade.
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Eden Care’s wellness-first strategy, supported by a strong tech and data science culture, and a focus on customer experience, positions the company to capitalise on this trend.
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. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh