Vienna-based InsurTech firm hi.health has successfully raised €6 million in a pre-Series A funding round, positioning itself for expansive growth throughout Europe. The financing round garnered support from established investors including SpeedInvest and Calm/Storm, as well as new international backers such as Haymaker Ventures, Fin VC, and Nina Capital. This influx of funds marks a pivotal moment for hi.health, enabling the company to expand its workforce, diversify its product portfolio, and strengthen its market presence.
The additional capital will empower hi.health to pursue partnerships, with a strategic focus on extending services to pharmaceutical firms and providers of doctor software in the near future. Founded in 2018 by Fredrik Debong (ex-mySugr) and Sebastian Gruber, hi.health is dedicated to simplifying the reimbursement process for insured individuals. The company’s innovative digital InsurTech solution offers a streamlined approach to billing, ensuring a faster and more accessible process for managing medical expenses.
hi.health’s user-friendly app facilitates seamless invoice submission, managing subsequent processing, billing, and customer service to provide users with a hassle-free experience. Sebastian Gruber, co-founder and CEO of hi.health, highlighted the substantial need for a digital reimbursement solution in the private insurance sector, emphasizing the company’s accomplishment of processing several hundred thousand submissions for users in nearly three years.
With the newly acquired capital, hi.health aims to expand its team and offer enhanced digital services to both partner companies and users. Markus Lang, Partner at SpeedInvest, expressed enthusiasm for hi.health’s unique solution at the intersection of InsurTech and FinTech, while Phin Upham, managing partner of Haymaker Ventures, lauded the company’s technology for significantly improving the payment process in the insurance industry.