Lisbon and São Paulo, 3rd of May 2019 – Indico Capital Partners has just announced its fifth investment in the form of a half million euros into digital health platform Zenklub, based in Lisbon and São Paulo.
Zenklub is an emotional health platform connecting people to hundreds of specialists including therapists, coaches and psychoanalysts. People can easily choose a specialist or be recommended one by an AI powered concierge service, and can then book and enjoy their video or chat sessions. Specialists also benefit immensely from the platform as they have immediate access to a personalized website and an all-in-one digital office via subscription, that allows them to manage their clients, payments and sessions.
According to the World Health Organization (WHO), anxiety and depression are acknowledged as the 21st century’s health epidemic. Brazil is Latin America’s first and the world’s fifth most “depressed” country, where nearly 12 million suffer from the medical condition. In addition, a 2015 study conducted by the United Nations estimated that a staggering 264 million people suffered from anxiety related disorders globally, with Brazil as the most impacted country with 18,7 million people affected. This is the problem that the two portuguese co-founders, Rui Brandão (Medical Doctor) and José Simões (Engineer & PhD), decided to start tackling back in 2016 while living in Brazil.
“We can’t turn a blind eye to the staggering numbers of people suffering from mental disease in Brazil and throughout the world. For us it is clear that the taboo surrounding these issues is breaking down and people are now more aware than ever before. Our numbers prove it, 60% of our clients had never consulted a specialist or pursued a solution for their emotional problems before” states Brandão.
Zenklub, which has already enabled over 50,000 online appointments, making it the market leader in Brazil, is on a mission to penetrate this €5 billion market and Indico’s funding will power their vision. In addition to the easy access to a curated network of specialists at affordable prices - 50 minute sessions cost on average €20 - the founders want to change people’s approach to emotional enhancement.
José Simões commented “We are here to help people hack achieve their full potential and live a purposeful life. Behavioral health is a massive problem that has yet to be solved and we’re excited that this new funding round will allow us to create data-enabled tools that will deliver better, faster, and personalized care”. With that in mind, Zenklub will be expanding the IT and Product teams in Lisbon.
Stephan Morais, Managing General Partner of Indico mentioned that: “We are thrilled to support a team that addresses the needs of millions of people, starting in Brazil, one of the world’s largest markets. Zenklub’s vision to promote global emotional well being is very much aligned with our investment thesis of using technology for impact.”
About Indico Capital Partners
Indico Capital Partners is a leading institutional independent early stage VC fund in Portugal. The experienced Partner team works to identify, invest and nurture the most promising Portuguese and Spanish early stage startups in the areas of B2B SaaS, Artificial Intelligence, Marketplaces, Fintech and Cybersecurity and B2C Platforms. Indico invests between 150 thousand and 5 million Euros per company. The team previously invested in companies such as Farfetch, Unbabel, Codacy and Talkdesk, amongst other Portuguese based global success stories.