Mediquo enters the Argentine public health system

The Spanish company Mediquo specialized in digital services for healthcare professionals and patients is focusing its business strategy on new markets and has just entered the market in Argentina, as confirmed by Guillem Serra, founder, and CEO of the company. 

This commitment to the Latin American country comes at a time when the company is increasing its capital, with the aim of raising $1.2 million (€1 million) through private financing. The public health service of Zárate, a municipality of Buenos Aires, has begun to monitor positive patients of Covid-19 telematically through the Mediquo app. 

Thanks to the agreement between the Spanish company and the municipality of Zárate, the patient has direct and free access to its coronavirus tracker via chat, which tracks his health status and the evolution of his symptoms daily until the patient is fully recovered. So far, more than 400 positive Zarate patients have been treated through Mediquo’s chat, counting already 4,000 consultations, “data that is increasing day by day with the daily follow-ups that the trackers do and the interaction of patients with them,” explained Serra.   

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Mediquo closed last January its third round of funding for $2.42 million (€2 million) 

In parallel, the Spanish healthtech company has opened a funding round of $1.2 million (€1 million) through the crowdfunding platform The Crowd Angel, which will be accompanied by private capital contributions from existing and new investors. Initially, the round was to be only $606,000 (€500,000), but “we have expanded it due to the success we have had because we covered our initial objective in less than 24 hours,” said the CEO of Mediquo.

So far, Mediquo has raised more than $909,000 (€750,000). The company will use the funds to plan a strategy over the next six months to consolidate its product vision, a telemedicine platform that includes software as a service (Saas) solutions, and a marketplace model. Mediquo also aims to enable functionality for health professionals to bill directly in the application with the integration of a payment gateway. 

Last January, Mediquo closed its third round of financing for $2.42 million (€2 million). Mediquo’s current partners, Guillem Serra, the German investment fund Target Global and a Spanish investor specialized in health, whose identity was not disclosed, participated in the operation. The objective of this round was the launch of a new application, Mediquo Pro, a platform aimed at health professionals. In early 2020, the company hired Bruno Cuevas as co-CEO. Mediquo’s first round of financing closed in 2018 and the company raised $3.64 million (€3 million).

The economic injection was led by Leandro Sigman, president of Insud Pharma, a pharmaceutical multinational present in more than forty countries. Also in 2018 Mediquo closed its second financing round of $1.8 million (€1.5 million). The capital increase was led by the venture capital fund Target Global, which has invested in companies such as Docplanner, which merged with the Spanish digital health company Doctoralia, or Delivery Hero, which delivers food to homes. 

Target Global is based in Berlin and has more than $606 million (€500 million) in assets under management. To carry out its marketing and commercial development, Mediquo signed up Bruno Cuevas, vice president of Schibsted, owner of InfoJobs, Coches, Fotocasa and Habitaclia, and of the generalist second-hand goods websites Vibbo (formerly Segundamano) and Milanuncios, as co-manager in early 2020.

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