Gaia, a startup platform that provides insurance payment plans to finance IVF treatments, has closed a $20m Series A round led by London’s Atomico.
According to a report from TechCrunch, previous investors also participated in the round, including Kindred Capital, Seedcamp, and US-based Clocktower Technology Ventures. This means Gaia has raised a total of $23m. Atomico partner Sasha Astafyeva will be joining the Gaia board.
Gaia was founded in 2019 by Nader AlSalim after he and his wife had to use IVF themselves, and he realised how unpredictable the costs for the treatment could be. The company uses predictive technology that predicts the number of rounds a couple will likely need in addition to the clinics that can offer the right treatment, based on clinical data sets, and insures the customer in the case of the treatment not being successful.
The Gaia model means that those who do not have a live birth pay lower costs for the treatment, and those who do, spread the cost of their total treatment cycles into monthly payments.
Nader AlSalim, CEO and founder, said, “The fertility care model as we know it today is broken because the gap between those who want access to fertility treatments and those who can afford access is greater than ever.
“Three out of four people who seek fertility treatment never start because they believe the financial burden would be too large. With only one in seven people in the UK and US who require IVF being able to access it, we need to rethink how people access, experience, and pay for treatments which are physically and mentally taxing.”
Copyright © 2022 FinTech Global
