Nelly, one of the fastest growing health HealthTech companies in Europe, announced today it has raised a EUR 15 million Series A. The round was led by Lakestar with participation from investors, including b2venture. The infusion of new capital will be used to further accelerate its growth in Germany, develop additional products, deepen its fintech capabilities, as well as to expand into new medical verticals and markets.

According to a recent study by ApoBank, 91% of independent healthcare professionals desire less documentation and administrative work. The immense volumes of paperwork and bureaucratic regulations pose significant challenges in their day-to-day work. This subsequently has broader implications for public health, as the time consumed by these tasks detracts from providing optimal patient care.

Nelly exists to address this problem and introduces an efficient digital solution for patient admission, invoicing, and payment. It is the first company which enables a fully digital patient journey in Europe, from check in to check out. Its platform seamlesslyintegrates with existing practice management software to provide a user-friendly approach to digitalizing medical administration work. Nelly ensures the entire patient visit, from registration and medical history to signing documents and payment, can be effortlessly processed using patients' smartphones - ultimately eliminating any disruptions in communication. This solution offers a first of its kind "factoring" and billing product, enabling medical invoices to be delivered digitally and paid with a single click.

The digital check-in and check-out process streamlines administrative tasks for both medical professionals and patients. It acts as a seamless bridge between practice management software and patients, establishing a robust digital connection. By digitizing alladministrative steps involved in a practice visit, Nelly provides a comprehensive 360-degree solution for efficient management of administrative processes and financial payments. Nelly's platform has already been adopted by over 450 practices, benefiting more than 350,000 patients and digitizing an impressive volume of over 3 million documents and invoices. Moreover, Nelly offers the potential to reduce payment fees by 30% to 50%, facilitated by significantly minimizing expenses related to invoice creation, postage fees, and the current elevated costs associated with factoring.

"Our goal with Nelly is to relieve medical professionals from time-consuming administrative tasks and increase their job satisfaction. We are delighted to announce this milestone funding round which will support the expansion of our contemporary communication and secure payment platform for medical services. Our solution delivers proven benefits including reducing the risk of reminder fees, for example, via payment reminders by SMS and email," explains co-founder and CEO Niklas Radner.

"We are proud to have been backing Nelly from the very beginning and are impressed by the progress they have made over the last year. The Series A round is testament to the company's enormous potential and ability to execute," says b2venture partner Jan-Hendrik Bürk.