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June 19, 2023

Berlin's Nelly Secures €15M to Digitize Medical Admin & Payments

Fintech start-up expands in Germany, targets new markets, and enhances its payment & admin solution

In an era where technology is reshaping industries, German start-up Nelly has emerged as a pioneering force in the healthcare sector. Nelly has recently closed a successful Series A funding round, raising an impressive €15 million. The infusion of capital will propel the company's growth in Germany, enable the development of new products, enhance its fintech capabilities, and pave the way for expansion into untapped medical verticals and markets. With a vision to revolutionize the way healthcare professionals manage administrative tasks, Nelly's digital solution aims to bring ease, efficiency, and cost savings to medical practices.

Streamlining Patient Administration with Innovative Digital Tools: According to a study by ApoBank, an overwhelming 91% of independent healthcare professionals desire a reduction in paperwork and administrative burdens. Nelly's innovative solution addresses this pain point by digitizing the entire patient administration and payment system. Through the platform, patients can conveniently handle tasks ranging from registration and medical history updates to signing documents and making payments—all from the comfort of their mobile phones. By eliminating tedious paperwork, Nelly empowers healthcare providers to focus on what matters most—delivering high-quality care to patients.

Lakestar, a leading venture capital firm, spearheaded the Series A funding round for Nelly. Joining forces with Lakestar were b2venture and Motive Ventures, both renowned investors in the tech industry. This significant vote of confidence from experienced backers underscores the potential and disruptive nature of Nelly's offering.

Nelly's co-founder and CEO, Niklas Radner, expressed his excitement about the funding milestone. He emphasized the start-up's mission to alleviate medical professionals from time-consuming administrative tasks, thereby boosting their job satisfaction. With Nelly's contemporary communication and secure payment platform, medical practitioners can experience tangible benefits, including a reduction in reminder fees through SMS and email payment reminders. The platform's seamless integration of administrative processes streamlines operations, allowing doctors to focus more on patient care.

Beyond the administrative benefits, Nelly's digital solution has the potential to deliver significant cost savings. By replacing traditional methods of invoice creation and postage, the fintech start-up estimates a potential reduction in payment fees of 30% to 50%. Moreover, the platform tackles the elevated costs associated with factoring, ultimately freeing up financial resources for healthcare providers to invest in patient care and practice growth.

Nelly's recent Series A funding success marks a pivotal moment for the German health tech start-up. With a focus on digitizing patient administration and payment systems, Nelly offers a transformative solution that benefits both medical professionals and patients. Through its secure and efficient platform, the company enables healthcare providers to streamline operations, reduce costs, and enhance job satisfaction. As Nelly continues to expand its reach, the healthcare industry stands to benefit from the positive impact of its innovative approach to communication and billing. With the backing of prominent investors, Nelly is poised to reshape the landscape of digital healthcare administration and drive positive change in the industry.

Neil Hodgson-Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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