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DOB Equity and others back Eden Care

Staff writer
Nov. 2, 2022, 4:06 p.m.

Word count: 384

DOB Equity, Seedstars International, Norrsken Foundation, and Bathurst Capital, have invested in a pre-seed funding round in Eden Care, a licensed Rwanda-based digital insurer.

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DOB Equity, Seedstars International, Norrsken Foundation, and Bathurst Capital, have invested in a pre-seed funding round in Eden Care, a licensed Rwanda-based digital insurer.

Arnold Mwangi, Investment Professional at Nairobi-based Dutch impact investment firm DOB Equity, said: “The health insurance market in East Africa is ripe for disruption that delivers consumers better value and ultimately better healthcare provision. We see Eden Care as having what it takes to deliver that increase in value and service for consumers.”

Eden Care, launched in 2021 by Moses Mukundi, aims to disrupt the inefficient provision of health insurance in East Africa, with a digital-first solution, which saves consumers money by disintermediating insurance brokers.

Eden Care is a digital health underwriter that is rethinking healthcare by directing the flow of data and money towards the needs of the modern African consumer. Its approach leverages technology and data science to help members seamlessly navigate the healthcare system. The resulting product delivers a superior member experience, lowers costs, invests in prevention and wellness, and optimizes health outcomes.

Later in the year, Eden Care plans to launch free telemedicine for its members, reducing administration costs by 50% and allowing Eden Care to deliver more value to a members’ health than incumbent brokers offer.

As Africa transitions to middle-income status in the next decade, higher health spending and increased private health insurance penetration present Eden Care with a huge opportunity.

Eden Care’s wellness-first model, underpinned by strong tech, data science culture and focus on customer experience, positions the business to ride this wave.

Moses Mukundi, CEO and Founder of Eden Care, said: “Eden Care was founded to create the kind of health insurance we wanted for ourselves – one that is affordable and doesn’t require filling 6 pages of documents at the hospital and a three-hour wait time. One where we can easily see our benefits and provides wellness tools, community, and incentives to enable us to get and stay healthy. We are excited to add aligned investors to our cap table.”

Arnold Mwangi, Investment Professional at DOB Equity, added: “DOB is excited to partner with Eden Care to transform health insurance in Rwanda. By digitizing insurance processes and providing a wellness-first insurance cover to employers, Eden Care is making quality health insurance accessible to an underserved market – growing SMEs and businesses.”

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