40 million US dollars for Healthtech Wellster

The lead investor is the Bavarian pharmaceutical company Dermapharm. Wellster aims to become the leading healthcare platform outside North America.

Munich-based healthtech Wellster has completed a financing round of 40 million US dollars (equivalent to 35 million euros). The round was led by the pharmaceutical company Dermapharm from Grünwald in Bavaria. Existing investors HV Capital, the investment arm of Holtzbrinck, as well as SevenVentures from ProSiebenSat1 and Munich-based Ferber & Co are also increasing their investment.

Wellster has been operating a health platform since 2018, offering medical self-tests for intimate health on gospring.de and for hair loss on myspring.com, among other things. Similar business models already exist in the USA with the brands Hims and Roman. Wellster now wants to use the money to expand its offering to other diseases and reach new target groups. "The funding round comes at a key moment in our development," says Manuel Nothelfer, co-founder of Wellster. "It confirms our ambition to establish leadership in the European market and to expand our offering for additional target groups in the future, thereby closing existing gaps in care."

Wellster also cooperates with pharmacies that can sell suitable medicines and therapies to patients. "Our multi-platform strategy allows us to tailor personalized treatments to individual target groups," says Nico Hribernik, co-founder of Wellster. "This enables us to better address individual health problems, which ultimately leads to improved treatment success and more trust among patients."