RecoMed, a SA Online Healthcare Booking Platform Raise $1.5m Funding

RecoMed plans to use this funding to add new integrated platforms into its platform in the coming year. This could include an ambitious plan to deliver prescription medication directly to consumers.

RecoMed, an online healthcare bookings platform has secured $1.5m funding to enhance its platform. The funding round was raised in its latest funding round led by Vunani Fintech ($1m) and a group that includes Growth Grid Venture Capital Partners, AAIC, and Kenyan-based Push Ventures.

RecoMed aims to make use of the funding to add new integrated platforms into its platform in the coming year. This may include its plan to deliver prescription medication directly to its consumers.

RecoMed was established in 2013 as an African early adopter in telehealth and has an increase of 700% in bookings on its platform during the pandemic.

CEO Sheraan Amod stated that “We are facilitating more than R250 million in healthcare spend annually”. “Whether a patient seeks a convenient doctor appointment or taking the covid-19 vaccine jab, we make it easy to do and simple”

RecoMed African expansion

The company is also looking to expand further into Africa with a Kenya launch planned for early in 2022. This move draws from RecoMed’s experience in assisting corporates to navigate the infrastructure failings to reach a mass consumer audience.

RecoMed also plans on expanding into other African countries as it planned to launch in Kenya in early 2022. This drive is caused by its experience in helping corporates to navigate the infrastructure failings to reach a mass consumer audience.

Amod explained, “The future of health innovation is an exciting space for Africa as we keep offering the world market a scalable solution at affordable cost and where required low bandwidth that has not been done anywhere else globally”.

While the continental expansion is exciting, Fund director of the lead investor Mark Anderson at Vunani Fintechh is optimistic about how RecoMed is meeting the needs on the market in South Africa: “We are still in the early days of leveraging technology as a utility in healthcare, so there is massive potential here. We are confident that this latest fundraising round will make a major contribution towards the promotion of greater efficiencies in the health exosystem that will be of benefit to all stakeholders.”

Covi-19 is still driving the adoption of digital healthcare massively globally with Africa benefitting from the new efficiencies and subsequent ease of access to healthcare interventions. This was Amod’s main vision after experiencing the convenience of online medical appointment booking during the short stay in the US before getting back to South Africa to start RecoMed.

“Online technology is witnessing a drastic growth in customer adoption and popularity not due to the lockdown restrictions and the need to work and operate remotely.”

“The user-friendly platform and applications we developed greatly facilitate this evolution and suit people’s lifestyle, allowing them to have 24/7 interaction from wherever they are by their PC, phone, or tablet. For example, we find that 70% of patient booking occurs after hours”.