Finnish mobile health platform developer Wellmo has raised €1.3m in its first significant round of funding. The funding by institutional and private investors will be used for Wellmo’s continued global expansion.
Wellmo has developed a market-leading mobile health platform that enables insurance companies to create powerful, compelling and scalable health and wellness services. The only comprehensive platform product of its type on the market, Wellmo allows insurance companies to effectively leverage a wide range of third-party apps, international and local health service partners as well as assets they have already built for themselves.
Its estimated that the market for preventive digital health services will be worth several billion euros in the near future. Wellmo participated in the EIT Digital Accelerator scaleup programme in 2014 - 2016.
Jaakko Olkkonen, founder and CEO of Wellmo said:
“The EIT Digital Accelerator played an important role in helping us to access new markets and customers in other European countries. They supported us in growing our business and attracting potential future institutional and private investors.”
“Now we can increase our sales efforts in our key markets: Germany, Benelux and the Nordic countries. The funding will be used to develop the local sales organisation further and to ensure international growth.”
Wellmo already has over 20 clients, providing services to a total of seven million end-customers in seven countries: Finland, Sweden, the Netherlands, Poland, Germany, Belgium and South Africa.