LatamList – Pipo Saúde, a Brazilian healthcare provider for small businesses, raised a $4.6M funding round led by Monashees and Kaszek Ventures. The tech investor ONEVC also participated in the round.
Medical inflation in Brazil rises around 20% per year. Pipo Saúde helps companies find the best healthcare and insurance for their staff at affordable prices, thereby reducing company losses.
“The company’s platform offers recommendations for the healthcare products that fit the team, enabling businesses to improve the quality of life of their employees,” said Chief Executive and co-founder Maneola Ribas Mitchell.
The health insurance market is one of the few that has remained strong in the wake of COVID-19. More than 111,000 Brazilians have bought insurance since the start of 2020, and Pipo Saúde has seen a seven-fold increase in customers in the past six months. The startup expects to grow its current customer base ten times by the end of the year.
The co-founders of Pipo Saudé have experience in private equity and the healthtech sector. Mitchell previously worked at Temasek and Actis where she focused on healthcare. Vinicius Correa and Thiago Torres previously worked at Nubank and Gávea Investimentos respectively.
“The Pipo Saúde team is exactly the team of entrepreneurs we look for at Monashees: genuinely concerned with using technology to improve the experience and bring efficiency to thousands of companies that today are in need of products aligned with their realities,” commented Caio Bolognesi, the Health Investments Partner at Monashees.
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