Remedial Health, a Nigerian startup, has received $1 million in pre-seed funding to help it grow and expand its BNPL product.
With participation from Ingressive Capital, Voltron Capital, and angel investment from Flutterwave’s Olugbenga “GB” Agboola, Victor Asemota, Opeyemi Awoyemi’s Angel Syndicate Fund, and other investors, the round was headed by Global Ventures and Ventures Platform. The company has also announced that it is a member of the Y Combinator W22 cohort, which includes a number of other African startups.
GSK, Pfizer, and Astrazeneca, as well as Nigeria’s Orange Drugs, Emzor, and Fidson Healthcare, are among the more than 100 pharmaceutical makers and suppliers affiliated to the firm, which has operations in six states throughout Nigeria.
In addition, the startup intends to expand into additional Nigerian states.
Remedial Health, which was founded in 2019 by Samuel Okwuada and Victor Benjamin, provides a suite of digital solutions that make it easier for healthcare providers to obtain economical and genuine retail medications, consumables, and medical devices from manufacturers and distributors.
“For many years, pharmacies and PPMVs have been at the forefront of healthcare in Nigeria, and we are thrilled to have raised these funds to help them connect more effectively with manufacturers and ensure that their data is more accurately reflected in decision-making across the pharmaceutical value chain.” “We strongly believe that these firms can play a crucial role in saving lives and livelihoods across the continent for years to come,” Okwuada added, using the ongoing worldwide epidemic as an example.
The startup also confirmed its participation in the Y Combinator accelerator’s W22 batch in Silicon Valley.
Remedial Health will use the new funds to help local pharmacies and Proprietary Patent Medicine Vendors (PPMVs) have access to affordable and authentic retail medications.