Vietnam’s Healthtech Medici Raises Pre-Series A Funding
Medici, Vietnam’s leading one-stop healthcare and insurance platform, has raised an undisclosed amount in their pre-Series A round co-led by Wavemaker Partners and Jungle Ventures, with participation from Medici’s existing investor, Insignia Ventures Partners. The company will use the fresh funds to scale up its insuretech footprint, expand its healthcare offering, and hire across different roles in the organization.
Founded in 2019, by Duc Anh Ngo, Medici’s vision is to make healthcare and insurance more accessible and affordable to the masses in Vietnam. The company brings a unique approach to increasing healthcare access and protection in Vietnam through its holistic healthcare ecosystem that has expanded from telemedicine to a marketplace and most recently, insurance.
In the last two years alone, Medici has grown to be the largest in-house doctor influencer network in Vietnam, with partnerships with over 50 hospitals and clinics for health screenings, a drugs and supplements marketplace, and over 100,000 e-health profiles documented on their platform.
Further, in July 2021, Medici launched its insurance business with the brokerage license issued by the Ministry of Finance, being the first tech startup in Vietnam to do so. Bolstered through its partnerships with FWD, Cathay Life, Liberty Insurance, Bao Viet Insurance, PVI, PTI and Bao Minh Insurance, the company is seeing 100% month-on-month growth in its insurance business. Vu Ba Tuyen, ex-Deputy CEO of Hanwha Life, with more than 20 years experience in the insurance industry, has been appointed as the Deputy CEO of Medici in charge of Medici’s insurance business.
Medici is the leading Vietnam company building a digital-first, holistic healthcare ecosystem enabling affordable access for the Vietnamese masses to best-in-class doctors, healthcare products, and insurance. Medici’s ecosystem includes telemedicine services connecting users to their curated network of in-house and partner doctors, clinics, and hospitals, an online marketplace for supplements powered by partnerships with pharmaceutical companies, and a network of leading companies in Vietnam distributing their services to their employees.
In 2021, Medici ventured into the insurance space, being the first healthtech in the country to acquire an insurance broker license from Vietnam’s Ministry of Finance. This has enabled them to offer affordable policies based on the health data from their ecosystem, which has millions of users across more than 30 provinces in Vietnam