Romanian start-up SanoPass valued at EUR 2 mln in mixed financing round

SanoPass, a Romanian start-up that aggregates independent medical service providers to sell preventive medical packages to firms (as benefits for their employees), has raised EUR 400,000 in exchange for a 20% stake in a financing round that combined venture capital investors and equity crowdfunding. The company was thus valued at EUR 2 million.

SanoPass aimed to draw EUR 100,000 through the equity crowdfunding platform SeedBlink and managed to get subscriptions worth EUR 145,000 in less than one hour. The remaining EUR 300,000 came from two venture capital funds, namely Cleverage Venture Capital (lead investor) and Founders Bridge, which contributed with equal amounts.

The main investors of Cleverage Venture Capital are entrepreneurs Wargha Enayati (president of Enayati Group), Georgios Sofianos (healthcare entrepreneur, CEO Sofmedica), Sergiu Neguț ( business angel and co-founder of Fintech OS), Voicu Oprean (founder of AROBS Transilvania Software) and Alexandru Popescu (executive with over 20 years of C-level experience in the medical industry in Central and South-East Europe).

Founders Bridge is a Swedish investment fund launched by five serial entrepreneurs, including two Romanian founders, Adrian Trif and Liviu Munteanu.

SanoPass, a company launched in 2019 by two young Romanian entrepreneurs, Andrei Vasile and Mihai Vadan, issues preventive medical subscriptions offered by employers as benefits for employees. The SanoPass network currently includes more than 600 private clinics and medical practices nationwide.

With this investment, SanoPass is targeting at least 20,000 users and a network of 1,300 private clinics in the country by the end of 2020.

(Photo source: Pixabay.com)