Nelly closes €15M funding for digitalising medical administration
A Seamless Digital Patient Journey from Check-In to Check-Out with Nelly’s Innovative Platform
German company Nelly has carved out a distinctive niche, heralding a new era in the digitalisation of medical administration. With a robust €15 million Series A funding round led by the renowned Swiss venture capital firm Lakestar, Nelly is not merely a spectator in the healthcare digitalisation journey but a formidable player crafting a novel narrative in the sector. Lakestar, with its investment history intertwined with tech giants like Revolut, Spotify, and Robinhood, alongside Swiss VC b2venture and US-based Motive Ventures, has vested its trust and financial muscle in Nelly’s vision and technological prowess.
The essence of Nelly’s mission is deeply rooted in alleviating the administrative burdens that healthcare professionals often grapple with. A study highlighted that a staggering 91% of independent healthcare professionals yearn for a reduction in documentation and administrative tasks, which inadvertently impact the quality of patient care due to their bureaucratic and paperwork-intensive nature.
Nelly’s platform, a first of its kind in Europe, enables a fully digital patient journey from the moment of check-in to the final check-out. This isn’t merely a digital transformation; it’s a reimagining of administrative workflows, ensuring that every facet of the patient visit, including registration, medical history documentation, document signing, and payment, is seamlessly processed using patients’ smartphones. This eliminates communication disruptions and enhances the overall patient experience, ensuring it is as smooth and hassle-free as possible.
Moreover, Nelly’s platform integrates flawlessly with existing practice management software, providing a user-friendly approach to digitalising medical administration. The company also offers a unique “factoring” and billing product, enabling medical invoices to be delivered digitally and paid with a single click, streamlining the check-in and check-out processes. This digital platform simplifies administrative tasks for medical professionals and patients, establishing a seamless connection between practice management software and patients and offering a comprehensive solution for efficient management of administrative processes and financial payments.
Nelly’s platform, which has been adopted by over 450 practices, benefits more than 350,000 patients, digitising over 3 million documents and invoices. Furthermore, the platform has the potential to reduce payment fees by 30% to 50% by minimising expenses related to invoice creation, postage fees, and factoring costs.
Founded in 2021 by Laurids Seibel, Rasmus Schults, Niklas Radner, Lukas Eicher, and Tobias Heuer, Nelly’s platform also provides a fully GDPR-compliant digital process for medical practices, enabling patient admission, treatment contract signing, invoice delivery, and payment through a specialised e-signature system. The platform is already utilised by more than 450 practices and 350,000 patients, digitising over 3 million documents and invoices.
Niklas Radner, the Co-founder and CEO of Nelly, expressed his excitement about the milestone funding round, highlighting the company’s goal to relieve medical professionals from time-consuming administrative tasks and improve job satisfaction. “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 fund 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 Radner.
Lakestar Partner Oliver Heimes shared similar enthusiasm, stating, “We are delighted to lead the Series A funding round for Nelly. It’s an exceptional HealthTech company revolutionising the landscape of digital communication and billing. With Nelly’s platform already empowering over 450 practices and benefiting more than 350,000 patients, digitising millions of crucial documents and invoices, we are truly excited about its transformative potential for the healthcare industry.”