CarePay International, a health e-payments technology firm and M-TIBA’s parent firm, is upgrading its systems, increasing healthcare providers on its platform and expanding its local operations in Kenya and Nigeria after it received a $300,000 prize-money in the Entrepreneurs for Resilience competition in Beijing.
This is in addition to the €40 million in a Series A financing round the Amsterdam and Nairobi-based firm raised in May. Already active in Kenya and Nigeria, the firm said it would use the funds to expand its mobile health payments platform in Nigeria and into Tanzania.
With the £40 million and the recent $300k, the firm will embark on software development, acquisition of more healthcare providers to its M-Tiba platform and doing nationwide sensitisation programmes on Universal Health Coverage.
“Winning a global competition that involved 200 outstanding companies is an affirmation that M-Tiba built and scaled by our Kenyan team is giving its users a solution to cater for their medical expenses,” said CarePay chief executive Kees van Lede who will be leaving for a pan-African position.