Berlin's Nelly Bags €50M to Transform Medical Practice Management
The Nelly founders Lukas Eichner and Niklas Radner - © Nelly Solutions
Berlin-based health-tech startup Nelly has secured €50 million in Series B funding to accelerate the digitization of Europe's healthcare system, according to a company press release. The investment round was led by Cathay Innovation alongside Notion Capital, with participation from existing investors including b2venture, Lakestar, Motive Ventures, and arc investors.
Nelly's Financial Operating System (FinOS) currently serves over 1,200 medical practices and 2 million patients, helping healthcare providers streamline administrative and financial processes. The platform has already digitized 30 million paper documents, saving medical practices an average of 10 minutes per patient interaction.
The funding comes at a crucial time, as a McKinsey & Company study reveals that 70% of European healthcare professionals consider outdated administrative processes a major barrier to efficiency and patient satisfaction. Nelly's solution integrates with existing practice management software to optimize everything from patient admission to document management and payment processing.
"The support from our investors underscores not only confidence in our team and business model but also in our ability to improve outcomes for healthcare professionals and patients," said Niklas Radner, co-founder and CEO of Nelly.
The company has recently expanded into Italy and plans to use the new capital to enhance its product offerings and accelerate international expansion. Founded in 2021, Nelly aims to establish itself as Europe's largest healthcare fintech platform, offering a GDPR-compliant digital process that enables patients to manage their entire healthcare journey via smartphone.
