Founded in Lagos, Nigeria, and Austin, Texas, Reliance Health started as a telemedicine-focused startup known as Kangpe in 2015. The company was founded by Femi Kuti, Opeyemi Olumekun, and Matthew Mayaki with the aim of addressing Nigeria’s healthcare challenges. After a year of operations, they pivoted to Reliance Health, recognizing the early stage of the market and the systemic gaps in follow-up care and processes.
In 2016, Reliance Health was officially launched with a mission to make healthcare accessible and affordable across Africa using technology. The startup provides a comprehensive healthcare solution that combines affordable health insurance, telemedicine, and both partner and proprietary healthcare facilities.
How Reliance Health is Revolutionizing Healthcare
Reliance Health offers an innovative platform that combines telemedicine with a network of healthcare facilities to provide cost-effective solutions. Customers can access 24/7 telemedicine consultations, medication delivery, and healthcare services through the Reliance app, which connects them to doctors, nearby healthcare providers, and a network of nearly 2,000 partner clinics.
For a fixed monthly or annual fee, Reliance Health serves individuals and businesses, offering comprehensive health coverage, a proprietary network of clinics, and an extensive partner network. This integrated healthcare model is designed to meet the demands of emerging markets by providing a seamless and accessible healthcare experience.
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Reliance Health Funding
In 2022, Reliance Health raised $40 million in its largest Series B funding round, marking a significant milestone for the company. The round was led by General Atlantic and saw participation from Partech, Picus Capital, Tencent Exploration, and other global investors. This investment was notable as it marked General Atlantic’s first technology investment in Africa.
Reliance Health’s funding journey began in 2020 with a $6 million Series A round, led by Partech and supported by Y Combinator, LoftyInc Capital, and other investors. To date, Reliance Health has raised $48 million in total funding, fueling its growth and expansion across Africa.
Growth and Expansion: Serving Over 200,000 Lives
Reliance Health’s impressive growth trajectory is highlighted by its service to over 200,000 individuals and over 600 business customers, including notable names like Biersdorf Nivea, Jumia, and PwC. The platform has achieved an exceptional 99% retention rate and consistently averages 3.5x year-on-year revenue growth.
In 2022, Reliance Health expanded its operations to Egypt under the name Reliance Health Egypt (RHE), marking its first step in regional expansion. Additionally, the company opened new Reliance Family Clinics in Port-Harcourt and Abuja, further solidifying its presence in the African healthcare market.
Reliance Health’s Impact on African Healthcare
Reliance Health’s impact is undeniable. The company has revolutionized healthcare access for over 200,000 lives, serving both individuals and businesses with innovative solutions. With over 230 employees, Reliance Health has been recognized as one of the top companies in Nigeria by Jobberman’s 2019 list and was shortlisted as the “Most Outstanding HealthTech Startup” by Techpoint Africa in 2021.
As one of the leading digital health providers in emerging markets, Reliance Health is poised to continue its expansion and play a crucial role in transforming healthcare access across Africa.
