Eden Care receives impact debt from Boehringer Ingelheim Social Engagement Fund

Eden Care, an AI-driven health insurance provider for employers in Rwanda and Kenya, has received an impact-first debt investment from the Social Engagement Fund of Boehringer Ingelheim, the company announced on 9 July. The amount was not disclosed. The same announcement covers a second investee, Mexican digital health company Diagnostikare.

What Eden Care does

Eden Care provides group health insurance covering employees and their families. It runs a software-as-a-service platform that speeds up claims for insured patients, and it also offers its claims engine to other insurers to automate adjudication and reduce fraud. Moses Mukundi is CEO.

The problem it targets

The announcement says out-of-pocket health costs push over 150 million Africans into poverty each year, and fewer than 8% of people in Sub-Saharan Africa have any health insurance. It adds that regional claims costs run above twice the global average, with fraud rates of up to 30% for some insurers. "I started Eden Care because no one should have to fight their insurer," said Mukundi.

The investor

The Social Engagement Fund is Boehringer Ingelheim's impact investment vehicle, and its associate director Andrew Gwadiva is quoted in the announcement alongside Mukundi.

At a glance

• Company: Eden Care
• Raised: Amount not disclosed
• Round: Impact-first debt
• Investor: Boehringer Ingelheim Social Engagement Fund
• CEO: Moses Mukundi
• Markets: Rwanda and Kenya
• Key figure: Fewer than 8% of Sub-Saharan Africans have health insurance