Dutch-African digital mobile health payments firm CarePay International has received US$300,000 from the Swiss Re Foundation’s Entrepreneurs for Resilience Award 2019.
CarePay was recognized for its M-TIBA platform, a cloud-based “finance for healthcare” solution that can be accessed on any mobile phone. On M-TIBA, users are empowered to make informed decisions on how to access finance for their own healthcare and/or that of their relatives, friends or employees through their own “mobile wallet”.
The platform digitally connects health payers such as insurers, beneficiaries and healthcare providers on to one mobile platform, so that they can transact and communicate with each other in real-time.
The company has to date enrolled well over 4.5 million Kenyans and activated more than 1400 healthcare providers on its M-TIBA platform.
The 2019 Entrepreneurs for Resilience Award winner, CarePay, was selected from three finalists by a jury of Swiss Re senior executives and academic representatives at an award ceremony in Beijing, China earlier in May. The award recognises entrepreneurial initiatives that take innovative approaches to build resilient societies and realising the United Nations Sustainable Development Goals.
CarePay International launched its mobile health payments platform in late 2016 in Kenya in partnership with Safaricom.
In 2018, the company secured US$45 million growth capital in its Series A financing round from Dutch private equity funds IFHA-II, impact investor ELMA Investments and PharmAccess Group (Dutch Ministry of Foreign Affairs) for expansion in Nigeria and Tanzania.
Image Credits: M-Tiba