Eden Care, a Rwandan insurtech firm that provides businesses and their employees with inexpensive, individualized, and accessible health coverage, has acquired pre-seed capital to support its growth across East Africa.
The two biggest reinsurers in Africa, Zep Re and Africa Re, support Eden Care, a licensed provider of digital health insurance. The start-up gives companies a single platform to handle all of their employees’ health and wellness requirements.
With a digital-first approach that disintermediates insurance brokers, the startup seeks to upend the ineffective delivery of health insurance in East Africa.
Its secret pre-seed fundraising round is headed by DOB Equity and includes Seedstars International, the Norrsken Foundation, and Bathurst Capital.
“Eden Care was formed to make the kind of health insurance we desired for ourselves: inexpensive, without a three-hour wait period and six pages of paperwork to fill out at the hospital. One that makes it simple for us to see the benefits and offers community, wellness tools, and incentives to help us become and maintain our health. According to Eden Care’s CEO and founder, Moses Mukundi, we are pleased to welcome like-minded investors to our capital structure.
The East African health insurance market, according to Arnold Mwangi, an investment professional at the Dutch impact investment firm DOB Equity in Nairobi, is ready for disruption. His company is thrilled to partner with Eden Care to help it provide consumers with better value, which will lead to better healthcare provision.
We believe Eden Care has what it takes to provide consumers with that boost in value and service, he added.
“Eden Care is democratizing access to quality health insurance for a market that is underserved—growing SMEs and businesses” by digitising insurance processes and offering wellness-first insurance coverage to employers.