Ghanaian e-health startup BIMA has raised an undisclosed amount of funding from AAIC Investment to accelerate its expansion.
BIMA offers affordable health insurance products and digital health services tailored for the low income and underserved populations in emerging markets. The first licensed telemedicine provider in Ghana, it has since expanded its operations into Tanzania, as well as Pakistan, Bangladesh, Sri Lanka and Cambodia, serving more than six million active users.
It has now secured an undisclosed amount of funding from AAIC, a health-focused VC fund which says its “sweet spot” is the US$1 million mark, having achieved profitability earlier this year.
The funding will accelerate BIMA’s growth in existing markets and support the company’s expansion in Africa by leveraging AAIC’s network and expertise.
“We are grateful to have AAIC join us on this journey. Their expertise in health tech will be an asset as we continue to expand our healthcare ecosystem and make insurance more affordable for people in emerging markets,” said Gustaf Agartson, founder and CEO of BIMA.
“African healthcare faces numerous challenges, primarily due to limited access to health insurance. Although governments are promoting universal health coverage, this requires substantial budgeting and time. The private sector should play a role, but traditional solutions often remain inaccessible to most people. BIMA addresses this issue by leveraging telemedicine and partnering with mobile money services. We are confident that BIMA’s growth will significantly improve healthcare in Africa,” said Hiroki Ishida, director of AAIC (Kenya).
