South Africa’s Athena has secured an additional $150,000 from Founders Factory Africa to allow patients to split their medical bills into monthly instalments .The additional investment brings its total investment from FFA to $250,000.
Established in 2022 ,Athena is a healthcare financing company that allows patients to get the healthcare they need now and pay for it in instalments. Athena makes it easy to afford healthcare by splitting your medical bill into manageable instalments.
According to Athena’s founder, Jabulani Nyembe , the cost of healthcare has been rising at a rate above inflation, leaving many patients unable to afford healthcare. Many of us rely on medical schemes to pay for healthcare, and we are faced with dwindling medical savings coupled with rising premiums and many medical procedures requiring co-payments or not being covered by medical aid at all.
Founders Factory Africa stated that they are excited about the progress made with Athena and their commitment to supporting innovative solutions that address critical challenges in the healthcare sector.
The investment not only reflects confidence in Athena’s business model but also signals Founders Factory Africa’s dedication to fostering impactful ventures in the African startup ecosystem.
Since last year, Founders Factory Africa has been working closely with founder, Jabulani Nyembe with an aim to boost the growth of the company from a conceptual stage to a fully operational business with a market presence and a growing customer base.
The health care financing platfrom seeks to provide more affordable options for individuals to access the private healthcare system in South Africa.
Athena’s unique model allows patients to receive and accept their repayment terms, making the financial aspect of healthcare more manageable.
By paying the first installment, patients can initiate their coverage, proceed with their medical procedure, and Athena takes the responsibility of settling the full amount owed to the healthcare practitioner.
Repayment to Athena is then spread over 3 or 6 months, offering flexibility and easing the financial burden on patients.
This partnership with Founders Factory Africa serves as a testament to the potential of such partnerships in driving positive change in the healthcare landscape.