According to reports, the investment will accelerate the company’s international expansion and innovation and will enable CarePay to extend its health insurance platform to new regions and markets, boosting its ability to reduce healthcare costs and facilitate a direct connection with the individual.
The new funding saw participation from both existing and new investors. The Reinsurance Group of America (RGA), a Fortune 500 company and one of the world’s largest life and health reinsurance firms, joins as a new long-term strategic investor.
With a mission to provide healthcare access to more people worldwide, CarePay’s core mission is to provide healthcare access to more people worldwide. The insurtech addresses data access and data quality challenges faced by health insurers and their insured members.
CarePay’s platform connects members, payers, and healthcare providers in real-time, managing claim payments and personalized information flows efficiently. The technology prepares the healthcare sector for an AI-driven future by ensuring transparent, high-quality data insights, intrinsically designed to protect the privacy of its clients and to meet stringent standards such as GDPR.
Additionally, The Health Insurance Fund continues to support CarePay, reflecting its dedication to grow inclusive healthcare markets globally with Dutch technology and innovation.
Pieter Prickaerts, CEO of CarePay, stated, “Securing this fresh funding is a significant milestone for CarePay. It underscores the growing emphasis on leveraging high-quality data for AI-driven disruptions in healthcare. Our goal is to make healthcare more accessible and efficient for people globally.”
Nicole Spieker, CEO HIF also commented, saying, “Our ongoing investment in CarePay reflects our belief in their vision to drive meaningful change in health markets by expanding patient-centric access to care, including the previously uninsured.”
Kenneth Schuit, Vice President, Ventures & Partnerships at RGA, added, “We are excited to support CarePay as they enter this next phase of growth. Their state-of-the-art platform’s capability to ensure secure, scalable, and high-quality data makes them a compelling investment for making financial protection accessible to all.”
Source: CarePay
