Mediquo Opens €1 Million Round to Boost its Commercial Activity

Mediquo is in search of more capital to grow. The Spanish company specializing in digital health has opened a €1 million financing round with the aim of supporting its commercial growth both domestically and in Latin America, Guillem Serra, CEO, and co-founder of Mediquo, confirmed.

The company hopes to reach break-even in 2022 and that the agreements it can consolidate in the coming years will bring it sales of 20 million euros in 2027, according to the startup’s estimates. Mediquo makes it possible for any healthcare professional to attend to patients by chat, call, or video call in a secure way and with professional tools that facilitate telematic communication.

Developed by a team of doctors, the company was launched in November 2017, focusing its growth in Spain and Latin America with the goal that anyone can have access to a doctor from their mobile device. The company currently offers its services to more than 1.2 million users.

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Mediquo is confident of reaching ‘break even’ by the end of the year

In 2020, Mediquo launched Mediquo Pro, a platform aimed at the healthcare professional, so that it could be used by any doctor, hospital, clinic and even the public health sector.

Since 2020, Mediquo has made a change of focus, betting on offering its technology and services not only to the end consumer, the patient but also to large corporations. In this way, the company has managed to create a network of partners in several Latin American countries such as Brazil, Ecuador, Mexico, and Argentina, states in which Mediquo has corporate clients as well as local medical services.

In fact, last summer, the company closed a €1 million round led by the Mexican laboratory Silanes, which allowed it to land in the Aztec country. Months earlier, in November 2021, Mediquo reached an agreement with Brazil’s Algar Telecom to offer its services in the country.

The Spanish company entered the Mexican market last summer

If this round is successfully completed, Mediquo would add its sixth operation of this size. In April 2021, Encomenda Smart Capital and Dozen Investments led a €2.3 million round in the Spanish digital health company.

Mediquo’s first round of funding closed in 2018 and the company raised €3 million. The economic injection was led by Leandro Sigman, president of Insud Pharma, a multinational pharmaceutical company present in more than forty countries.

Also in 2018 Mediquo closed its second round of financing, for €1.5 million. The capital increase was led by the venture capital firm Target Global, which has invested in companies such as Docplanner, a firm that merged with the Spanish digital health company Doctoralia, or Delivery Hero, a home food delivery company. Target Global is based in Berlin.

The third round was in January 2020. The company raised €2 million, a financial contribution from existing partners Target Global and led by a Spanish investor specializing in healthcare, whose identity was not disclosed.

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(Featured image by Tima Miroshnichenko via Pexels)

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