The Ghanaian digital health startup BIMA has successfully secured a new round of investment from AAIC Investment, with the specific amount remaining undisclosed. BIMA is recognized for providing affordable health insurance and digital health services, specifically catering to the low-income and underserved demographics in emerging markets. As Ghana’s first licensed telemedicine provider, BIMA has broadened its reach beyond its home country, establishing a presence in Tanzania, Pakistan, Bangladesh, Sri Lanka, and Cambodia, and currently boasts over six million active users.
AAIC, a venture capital fund with a keen focus on health, typically considers investments around the US$1 million mark and has chosen to back BIMA following its achievement of profitability earlier in the year. The new funds are earmarked to fuel BIMA’s continued growth within its existing markets and to facilitate the company’s further expansion across Africa, with AAIC’s network and health tech expertise expected to play a crucial role in this development.
Gustaf Agartson, the founder and CEO of BIMA, expressed appreciation for AAIC’s partnership, highlighting the value of their health tech expertise in BIMA’s mission to broaden its healthcare ecosystem and make insurance more accessible in emerging markets.
Hiroki Ishida, Director of AAIC in Kenya, pointed out the significant challenges faced by African healthcare, particularly the limited access to health insurance. While governments are working towards universal health coverage, the process is budget-intensive and time-consuming. Ishida emphasized that the private sector must contribute, and BIMA is uniquely positioned to do so by integrating telemedicine with mobile money services. AAIC is confident that BIMA’s growth trajectory will have a profound impact on healthcare accessibility and quality across Africa.
