In order to accelerate its growth, Ghanaian e-health startup BIMA has raised an undisclosed amount of funding from AAIC Investment.
For low-income and underserved populations in emerging markets, BIMA provides digital health services and affordable health insurance products. Having been the first licensed telemedicine provider in Ghana, it has since grown to serve over six million active users by expanding into Tanzania, Pakistan, Bangladesh, Sri Lanka, and Cambodia.
Having achieved profitability earlier this year, it has now obtained an undisclosed amount of funding from AAIC, a health-focused venture capital fund, which claims that its US$1 million mark represents its “sweet spot.”
By utilizing AAIC’s network and experience, the funding will help BIMA expand into new markets and quicken its growth in current ones, particularly in Africa.
“We are grateful to have AAIC join us on this journey. Their expertise in health tech will be an asset as we continue to expand our healthcare ecosystem and make insurance more affordable for people in emerging markets,” said Gustaf Agartson, founder and CEO of BIMA.
“African healthcare faces numerous challenges, primarily due to limited access to health insurance. Although governments are promoting universal health coverage, this requires substantial budgeting and time. The private sector should play a role, but traditional solutions often remain inaccessible to most people. BIMA addresses this issue by leveraging telemedicine and partnering with mobile money services. We are confident that BIMA’s growth will significantly improve healthcare in Africa,” said Hiroki Ishida, director of AAIC (Kenya).
