In a resounding success for Ivorian healthtech, Susu, co-founded in 2019 by Bola Bardet, Laurent Leconte, and Sandrine Egron, secured $4.9 million in funding. This injection of capital is set to propel Susu's innovative healthcare solutions at the intersection of health, finance, and insurance to new heights.
Embarking on its mission in 2019, Susu's visionary founders, Bola Bardet, Laurent Leconte, and Sandrine Egron, established the healthtech startup with a focus on leveraging technology to provide groundbreaking solutions in the realms of health, finance, and insurance.
The Susu Journey
Serving over 7,000 clients across Côte d’Ivoire, Senegal, and Cameroon, Susu's success story takes a monumental leap forward. The recent funding infusion is earmarked for extending its footprint into additional Francophone African nations and North Africa, marking a strategic move towards broader regional impact.
Bridging Health and Finance
Susu's core offering lies in its innovative care packages, aptly named bundles, designed to cater to patients requiring close supervision for long-term health conditions such as diabetes and hypertension. These bundles not only track conditions but also deliver preventive advice for better management. Susu's mission transcends borders, aiming to enhance medical accessibility for individuals in their home countries, especially those with family members in the diaspora. The startup introduces a unique financing solution, allowing patients to pay their bills through a monthly subscription fee, facilitated by family members residing nearby or abroad through care bundles.
Susu's digital prowess is showcased through its 360° digital platform, acting as a seamless conduit between Susu's internal teams, medical providers, financial contributors, and beneficiaries. This platform enhances communication and coordination, ensuring a comprehensive and effective healthcare experience.
Strategic Investment and Industry Insights
Highlighting the undercapitalization of the insurance industry in sub-Saharan Africa, Omar Laalej, Managing Director of Al Mada Ventures, commends Susu's potential to increase opportunities for insurance product distribution. The strategic investment reinforces Susu's role as a transformative force in healthcare and finance convergence.
Tech-Aided Healthcare Boom: Africa's Changing Landscape
As Susu secures funding, the broader landscape of technology-aided healthcare services in Africa is experiencing significant growth. Projections indicate a revenue surge to US$5.37 billion in 2023, with healthtech startups employing technological methods representing 8.4% of the total funded startups in Africa.
A Testament to Susu's Impact
Susu's journey includes a pre-seed funding round of $1 million in 2022 and participation in the prestigious Google for Startups award competition in June 2023. These milestones underscore the increasing emergence of digital healthtech startups, the growing interest of investors, and an impressive adoption rate.
Susu's recent funding triumph positions it as a frontrunner in the evolving landscape of healthtech in Africa. With a vision that extends beyond borders and a commitment to bridging healthcare accessibility, Susu's journey unfolds as a testament to the transformative power of technology in reshaping healthcare and finance synergies on the continent.