Wellster raises a total of $60 million

The start-up raised 40 million US dollars just six months ago and has now added another 20 million.

The Munich-based Wellster Healthtech Group has completed a Series B financing round with a total of 60 million US dollars. Six months ago, the group had already received 40 million US dollars as part of the first part of the financing round. Now 20 million US dollars have been added. The company sees itself as Europe's leading provider of digital healthcare platforms - and now also as the best-funded integrated healthcare platform on the continent.

The second part of the round, which has now been completed, is complemented by investors Claret Capital from Luxembourg and Mangrove Capital from London. In the first part of the financing round in June, the pharmaceutical company Dermapharm and the Munich-based venture capital firm HV Capital, among others, participated.

Wellster intends to use the capital to build a platform for women's health. The platform will offer treatments for intimate health and medical lifestyle products. The platform is to be a counterpart to the "Spring" service, which is primarily aimed at men.

"The funding comes at a key moment in our development," says co-founder Manuel Nothelfer. "It reinforces our goal of maintaining our leading position in the European market and expanding our range of personalized healthcare services." Hans-Juergen Schmitz, Managing Partner at Mangrove Capital Partners, adds: "If you only consider the size, the potential of the healthcare market is the non-plus-ultra." Wellster fits in well with the company's investment strategy, among other things because its offering is appealing and aimed directly at patients.

Wellster was founded in Munich in 2018 by Manuel Nothelfer and Nico Hribernik. The company aims to give more people modern access to medical treatments. Wellster integrates telemedicine with digital services so that patients have direct access to treatments for everyday health problems. So far, the start-up has also focused on mental health, intimate, hair and skin health as well as medical self-tests. According to Wellster, 1.5 million patients have used the service since 2019.