LatamList – Sofía, Mexico’s first digital healthtech, raised a $19M Series A led by IndexVentures. The startup also received early-stage funding from IndexVentures angel investors in 2018.
The percentage GDP that Mexico spends on its health services is one of the lowest in the OECD despite the country’s high rates of chronic disease. The country also severely lacks in available and affordable healthcare coverage, with 91% of healthcare expenses paid out of pocket.
Sofía is a digital health insurance company that offers affordable health plans and in-app consultations. The startup was founded in 2018 by Arturo Sánchez Correa, Sebastián Jimenez Bonnet, and Manuel Andere Portas as a solution to Mexico’s underserved population.
Sofia tested its model during the peak of the COVID-19 pandemic in Mexico, offering free telephone consultation to patients. The healthtech has now launched its full product of affordable, digital healthcare plans and the Sofia App, which facilitates primary care and prevention through digital consultations with registered doctors. In conjunction with the Series A announcement the startup is the first Mexican healthtech to receive regulatory approval.
Read more on IndexVentures.