Nelly funding news – Berlin-based Nelly Secures €50 Million in Series B Round Funding

Nelly's Financial Operating System for healthcare is used by over 1,200 medical practices to increase efficiency and digitize administrative and financial processes. With a focus on product expansion, geographical expansion and increasing market share in Germany, Nelly is positioning itself as a leading fintech in European healthcare.

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While many industries in Germany are struggling with economic challenges, the healthcare and technology sector is booming. Nelly, one of the fastest-growing health and fintech companies in Europe, today announced the successful completion of its Series B financing round of 50 million euros.

The financing round was led by Cathay Innovation together with Notion Capital and existing investors b2venture, Lakestar, Motive Ventures and arc investors.

With these funds, Nelly intends to accelerate its mission to become Europe's largest fintech in healthcare, drive international expansion and further consolidate its position as a financial operating system for medical practices.

A study by McKinsey & Company highlights the urgent need for digital transformation in healthcare. According to the study, 70% of healthcare professionals in Europe regard outdated administrative processes as a major barrier to efficiency and patient satisfaction.

Nelly's practice and patient portal and financial operating system (FinOS) were developed specifically for medical practices to optimize processes such as patient admission, document management and payment processing.

By seamlessly integrating with practice management software, Nelly makes it possible to make operations more efficient and give healthcare professionals more time to care for patients. Patients also benefit from a fully digital experience that allows them to securely manage their entire journey — from check-in to payment — via their smartphone.

Since the Series A round, Nelly has more than doubled its customer base: The platform now digitizes processes for over 1,200 medical practices and two million patients. Nelly has thus set new standards for payment and administrative processes in healthcare.

The company is now planning to further develop its product and expand its offering to new European markets in order to strengthen its position as a leading fintech in healthcare.

Niklas Radner, co-founder and CEO of Nelly said, “The support from our investors underscores not only confidence in our team and business model, but also in our ability to improve outcomes for healthcare professionals and patients, We are looking forward to further automating administrative processes and driving process innovations to build the largest fintech in healthcare. ”

Jacky Abitbol, managing partner at Cathay Innovation said, “One of our key investment theses at Cathay Innovation is to identify solutions that sustainably improve efficiency in healthcare. At the same time, we are passionate about promoting innovative fintech companies that offer transformative added value to their industries. We are therefore particularly proud to support Nelly in transforming medical practices through new financial and operational processes. Working with this exceptional team has convinced us that Nelly is ideally positioned to become the leading bank for medical practices in the future. We're looking forward to accelerating their growth across the continent and beyond,”.

Itxaso del Palacio, general partner at Notion said, “Notion is thrilled to be working with Nelly to develop the next generation of operational and financial products for clinics. At Notion, we have already successfully cooperated with leading vertical software providers such as Mews Systems (hospitality sector) and Glofox (fitness sector). We are now looking forward to helping Nelly scale and achieve her global ambitions. With her unique combination of software and fintech, Nelly is ideally positioned to become a leading brand in this space. We are excited to accompany them on this journey,”.

While many industries in Germany are struggling with economic challenges, the healthcare and technology sector is booming. Nelly, one of the fastest-growing health and fintech companies in Europe, today announced the successful completion of its Series B financing round of 50 million euros.

The financing round was led by Cathay Innovation together with Notion Capital and existing investors b2venture, Lakestar, Motive Ventures and arc investors.

With these funds, Nelly intends to accelerate its mission to become Europe's largest fintech in healthcare, drive international expansion and further consolidate its position as a financial operating system for medical practices.

A study by McKinsey & Company highlights the urgent need for digital transformation in healthcare. According to the study, 70% of healthcare professionals in Europe regard outdated administrative processes as a major barrier to efficiency and patient satisfaction.

Nelly's practice and patient portal and financial operating system (FinOS) were developed specifically for medical practices to optimize processes such as patient admission, document management and payment processing.

By seamlessly integrating with practice management software, Nelly makes it possible to make operations more efficient and give healthcare professionals more time to care for patients. Patients also benefit from a fully digital experience that allows them to securely manage their entire journey — from check-in to payment — via their smartphone.

Focus on product expansion and geographical expansion Since the Series A round, Nelly has more than doubled its customer base: The platform now digitizes processes for over 1,200 medical practices and two million patients. Nelly has thus set new standards for payment and administrative processes in healthcare.

The company is now planning to further develop its product and expand its offering to new European markets in order to strengthen its position as a leading fintech in healthcare.

Niklas Radner, co-founder and CEO of Nelly said, “The support from our investors underscores not only confidence in our team and business model, but also in our ability to improve outcomes for healthcare professionals and patients, We are looking forward to further automating administrative processes and driving process innovations to build the largest fintech in healthcare. ”

As part of its European expansion, Nelly recently entered the Italian market — a region that is facing similar structural challenges in managing and digitizing healthcare.

Jacky Abitbol, managing partner at Cathay Innovation said, “One of our key investment theses at Cathay Innovation is to identify solutions that sustainably improve efficiency in healthcare. At the same time, we are passionate about promoting innovative fintech companies that offer transformative added value to their industries. We are therefore particularly proud to support Nelly in transforming medical practices through new financial and operational processes. Working with this exceptional team has convinced us that Nelly is ideally positioned to become the leading bank for medical practices in the future. We're looking forward to accelerating their growth across the continent and beyond,”

Itxaso del Palacio, general partner at Notion said, “Notion is thrilled to be working with Nelly to develop the next generation of operational and financial products for clinics. At Notion, we have already successfully cooperated with leading vertical software providers such as Mews Systems (hospitality sector) and Glofox (fitness sector). We are now looking forward to helping Nelly scale and achieve her global ambitions. With her unique combination of software and fintech, Nelly is ideally positioned to become a leading brand in this space. We are excited to accompany them on this journey,”.

The new capital will be used to drive international expansion and finance the development of additional product lines that are tailored to the changing needs of healthcare providers.

About Nelly Solutions

Nelly is revolutionizing the experience for patients and healthcare professionals by automating administrative processes and payment flows in healthcare. Founded in 2021 by Niklas Radner, Lukas Eicher, Rasmus Schults and Laurids Seibel, the Berlin start-up has set itself the goal of minimizing the administrative burden for doctors, medical staff and patients.