# Reliance Health

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/reliance-health

- Industry: Insurance
- Headquarters: Lagos, Nigeria
- Website: www.getreliancehealth.com
- Total disclosed funding: $88M
- Latest round: Series B (Feb 7, 2022)
- Investors on record: 13

## About

Reliance Health Inc. is a health technology company that provides innovative health benefits through a digital platform, enhancing healthcare access and well-being for employees in emerging markets.Founded in 2018 in Lagos, Nigeria, Reliance Health Inc. offers digital healthcare solutions designed to improve access to essential medical services. The company was co-founded by Femi Kuti and Opeyemi Olumekun, with Femi Kuti currently serving as CEO. As of February 7, 2022, the company raised USD 40 mn in a Series B funding round led by General Atlantic, with participation from various investors, bringing the total amount raised to USD 40 mn after this round.Reliance Health offers a suite of innovative health benefits designed to enhance the well-being of employees in emerging markets. The core product is the Reliance Health app, which provides plan members with immediate access to healthcare services via virtual consultations. Users can consult with doctors and receive prescriptions delivered to their homes or workplaces. This digital solution aims to minimize disruptions to users' daily lives while ensuring access to essential medical services, including proactive treatments, neonatal care, and coverage for emergencies and chronic conditions. The company collaborates with over 3,800 health and wellness partners to deliver high-quality clinical services that adhere to global standards. Reliance Health primarily serves businesses of all sizes across various sectors, focusing specifically on Nigeria and Egypt.The revenue model for Reliance Health is centered around subscription-based health plans and partnerships with corporate clients. Clients subscribe to the company’s health plans, which provide comprehensive healthcare coverage for their employees and families. These plans may include a variety of services ranging from routine check-ups to specialized care, ensuring that companies can support the health and wellness of their teams effectively. The structure of the transactions involves direct agreements between Reliance Health and businesses, facilitating a streamlined approach to healthcare benefits.In February 2022, Reliance Health Inc. raised USD 40 mn in Series B funding to expand its platform in emerging markets worldwide. The company plans to enhance its digital offerings and enter new markets, particularly focusing on expanding its presence in Africa and the Middle East. The recent funding will be utilized to further develop their services and increase their market penetration, providing more comprehensive healthcare solutions to underserved regions.

## Funding rounds

- Series B, Feb 7, 2022, $40M — General Atlantic, Partech Partners, Tencent Investment, M3, Inc., Picus Capital, Asia Africa Investment & Consulting, Laerdal Million Lives Fund, P1 Ventures, Arvantis Group
- Series A, Jan 30, 2020, $48M — Partech Partners, Y Combinator, Picus Capital, LoftyInc Capital Management, Golden Palm Investments Corporation, Ventures Platform

## Investors

- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A, Series B
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- Picus Capital (https://capitalatlas.ai/funds/picus-capital) — Series A, Series B
- LoftyInc Capital Management (https://capitalatlas.ai/funds/loftyinc-capital-management) — Series A
- Golden Palm Investments Corporation (https://capitalatlas.ai/funds/golden-palm-investments-corporation) — Series A
- Ventures Platform (https://capitalatlas.ai/funds/ventures-platform) — Series A
- General Atlantic (https://capitalatlas.ai/funds/general-atlantic) — Series B
- Tencent Investment — Series B
- M3, Inc. — Series B
- Asia Africa Investment & Consulting (https://capitalatlas.ai/funds/asia-africa-investment-consulting) — Series B
- Laerdal Million Lives Fund (https://capitalatlas.ai/funds/laerdal-million-lives-fund) — Series B
- P1 Ventures (https://capitalatlas.ai/funds/p1-ventures) — Series B
- Arvantis Group (https://capitalatlas.ai/funds/arvantis-group) — Series B