Fijoya, a specialised platform catering to health and wellness services tailored for employers, has successfully raised $8.3 million in a recent seed funding round.
The investment, led by the Venture-Creation fund of Team8, underscores Fijoya’s commitment to transforming employer-sponsored healthcare through its innovative AI-powered insurtech platform.
The infusion of capital will enable Fijoya to further solidify its position within the insurtech space, leveraging cutting-edge AI technologies to drive efficiency and efficacy in managing insurance-related services for businesses. As the demand for innovative insurtech solutions continues to grow, Fijoya stands poised to make a significant impact on the landscape of employer-sponsored healthcare.
The funding injection is earmarked to propel Fijoya’s insurtech capabilities, particularly focusing on addressing challenges within the $32 billion point solution vendor market. Positioned at the nexus of FinTech and healthcare, Fijoya’s comprehensive platform offers employers a streamlined approach to providing health benefits. This includes access to thousands of health and wellness services and products through a single, pay-per-use contract.
Speaking about the funding, Baruch Levy, CEO and co-founder of Fijoya, said, “Employer-sponsored healthcare is at a breaking point, with unsustainable complexity and cost. Our goal is to make it easier for employers to deliver the best employee health experience – easy to offer, find, and pay for. A health experience that is flexible, diverse and personalised, just like the people they serve.”
Alcom commenting on the news, Team8 Managing Partner Assaf Mischari, said: “Fijoya provides an opportunity to impact the lives of 160M employees and their families covered by self-insured employers by optimising the way they consume and pay for healthcare. This funding will allow Fijoya to expand its platform offerings in pursuit of a broad vision to change the landscape of employer-sponsored healthcare.”
He added:”We are incredibly proud that Fijoya is the first digital health startup built in collaboration with Team8’s venture-creation fund.”
