AAIC Investment backs health tech platform BIMA
BIMA provides affordable health insurance and digital health services.
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AAIC Investment has announced an investment in BIMA, a health tech platform that provides affordable health insurance and digital health services tailored to underserved populations in emerging markets.
The investment was made through AAIC’s Africa Innovation and Healthcare Fund (AHF2), a fund that focuses on investments in the healthcare sector in Africa.
Since its founding in Ghana, BIMA has developed a unique healthcare proposition that leverages telemedicine and integrates with local healthcare ecosystems to reduce the overall cost of care in regions where out-of-pocket healthcare expenses can push households into poverty.
BIMA was the first licensed telemedicine provider in Ghana and has since expanded its operations into Tanzania where it ranks among the leading providers of micro insurance. It has also established its presence in Pakistan, Bangladesh, Sri Lanka and Cambodia, serving more than 6 million active users across each of the six markets.
With a focus on sustainable growth, BIMA reached group-level profitability earlier in 2024 and has fine-tuned its business model to set a path to further scale. The strategic investment from AHF2 will accelerate BIMA’s growth in existing markets and support the company’s expansion in Africa by leveraging AAIC’s network and expertise.
Susumu Tsubaki, CEO of AAIC Investment said, “Healthcare in emerging markets faces significant challenges, particularly accessibility and affordability, which hinder outcomes. We are excited to join BIMA in revolutionising healthcare through sustainable, affordable insurance products. We believe BIMA’s approach will positively impact communities and improve overall healthcare outcomes.”
Gustaf Agartson, founder and CEO of BIMA said, “We are grateful to have AAIC join us on this journey. Their expertise in health tech will be an asset as we continue to expand our healthcare ecosystem and make insurance more affordable for people in emerging markets.”
Suramya Gupta, managing partner of CapitalSG, BIMA’s controlling shareholder said, “We are delighted to have AAIC join LeapFrog Investments and CapitalSG in our endeavour to develop BIMA as the leading affordable healthcare player across global emerging markets. AAIC’s unique understanding of the African healthcare sector will be invaluable in helping us scale BIMA’s African operations.”
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