The Ivory Coast and France-based Susu have raised $1 million in pre-seed money to give its customers in the Ivory Coast, Senegal, and Cameroon affordable and accessible insurance services.
Most of the financing came from angel investors, however, BPI France, France’s public investment bank, provided $1.2 million in loan and grant support.
After losing her father to a long-term illness, Bola Bardet teamed together with Laurent Leconte and Sandrine Egron to establish the company.
Pregnant women at high risk of complications from diabetes and hypertension, as well as individuals with chronic conditions, can receive care packages from Susu.
Patients can use the company’s financing options to pay for their medical expenditures, and family members can contribute to the monthly subscription fees by purchasing care bundles for their loved ones.
The company has grown tremendously since its inception. Last year, the company’s 5,000-strong customer base grew by five times thanks to the product’s success.
According to the company, revenue increased by more than 400% in 2021.
According to the company, the new funds will be used to hire more employees, speed HealthTech’s expansion into growing regions, and develop products to complement its own technology, facilities, and partnerships.
This money will allow Susu to expand its workforce and bring new products to market.
Nigeria and Ghana will be added to the list of countries where the company aims to offer its services in the near future.