Emotional health platform Zenklub raises $2.8 million to tackle pandemic´s mental fallout

Dear Friends and Supporters,

As a parent with small children currently homeschooling I now know too well how mentally challenging this confinement can be! That’s why I can relate to the thousands of clients that are using Zenklub to improve their mental wellness and happiness levels.

Enjoy the good news below!

Best regards,

Stephan Morais
Managing General Partner
Indico Capital Partners

Indico Capital fronts investment to expand Zenklub’s leading footprint in Brazil


São Paulo and Lisbon, 19th of May 2020 - Zenklub, an emotional health and wellbeing platform, announced a $2.8 million Seed round led by Lisbon based and current investors Indico Capital Partners with incoming Spanish fund All Iron Ventures participating alongside Portuguese 200M equity financing facility. Leaders in the Brazilian emotional health market, Zenklub offers their platform to end-customers and corporate employees alike.

The platform provides online therapy sessions with more than 500 specialists such as psychologists, psychoanalysts, coaches or holistic therapists and also emotional education content, with self-awareness journeys on different fields of life such as family, personal development, work or love. Specialists have a full suite of software tools that enable them to book, manage and invoice their marketplace clients, that in turn rate them according to the provided quality of service. For Rui Brandão, medical doctor and CEO of Zenklub, self-awareness is a continuous process that people are waking up to, highlighting that “We are an emotional health ecosystem, from content journeys to 1:1 sessions with specialists, so that each and every one of us can pursue their own emotional journey.”

This round will enable the startup to consolidate itself as the number one emotional health player in Brazil, with the aim to expand the company’s product offering to employees and HR departments through an exclusive platform, as well as increase the sales and account management teams.

“There is an unprecedented phenomenon happening all over the world. The COVID-19 crisis has drastically changed the behaviour of people and businesses. The demand for emotional health has grown and emotional health professionals in the segment are not accessible to a large part of the population or are not available in insurance plans. At the same time, companies are understanding that their core business is people, and taking care of their emotional health is paramount for the survival of businesses as a whole. Our mission has always been to democratize emotional health access and, at a time like this, of solitude and economic recession, we reaffirm our purpose.” comments Brandão.

The company is primarily focused on the Brazilian market, but they will be testing new markets such as Portugal. With operations between São Paulo and Lisbon, Portugal, the startup will continue to invest heavily in product and engineering, foreseeing the recruitment of 40 professionals following this round of investment.

Stephan Morais, Managing Partner at Indico said that “the moment is perfect for Zenklub, the need for this service was already significant because of the convenience of not having to go to a physical appointment and wasting a day of work. Now with the confinement and social distancing measures, it's even more obvious. Large global companies are also providing this type of service to their employees and Brazilian corporates are no exception. With insurance companies in Brazil covering online appointments, the solution is a perfect fit for the current situation. We are committed to continuing supporting Zenklub in their global expansion”.

Hugo Mardomingo, Principal at All Iron adds that "We believe mental health will become a huge category within healthcare in the upcoming years as both people and companies are increasingly aware of the impact of emotions in many other aspects of their wellbeing. The Zenklub team is determined to create the leading company in this space and to democratize access to high-quality mental health service. As investors, we like to back ambitious founders making a positive impact in people's lives." 

Indico Capital Partners had led Zenklub’s pre-seed round exactly a year ago. Indico is now leading this seed round with Spanish fund All Iron Ventures and multiple Brazilian angel investors from the healthcare and corporate benefits sectors. Portugal´s 200M equity financing facility also participated in this round.

For further information:


About Indico Capital Partners
Launched by Indico Capital Partners, the Indico Capital Partners VC I fund is dedicated to early stage tech start-ups. The management team is composed of Stephan Morais, Ricardo Torgal and Cristina Fonseca. With commitments totaling 54 million euros, the fund’s objective is to find, invest and capitalize on the most promising Iberian start-ups, investing between 150 thousand to 5 million euros. Indico Capital Partners is also a signatory of the Principles for Responsible Investment.

About Zenklub
Zenklub is the leading emotional health platform in Brazil for end-customers and corporate employees. We provide online sessions with more than 500 specialists such as therapists and coaches,  and also an emotional education platform, with +200 contents such as self-awareness journeys, podcasts and meditations. For specialists, we provide a full SaaS that enables booking, CRM, invoicing and video-calls.

Horizon 2020, EFSI and Portugal Tech
Indico VC Fund I is supported by InnovFin Equity, with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Funds for Strategic Investments (EFSI) set up under the Investment Plan for Europe. The purpose of EFSI is to help support financing and implementing productive investments in the European Union and to ensure increased access to financing. It is also co-financed by Fundo de Capital e Quase Capital (FC&QC) managed by IFD - Instituição Financeira de Desenvolvimento, S.A. through the Portugal Tech facility managed by the European Investment Fund (EIF).

About 200M Fund
200M Fund is wholly funded by European Structural and Investment Funds, namely European Regional Development Fund, under the Portugal 2020 Partnership Agreement and through the Regional Operational Programs of the North, Center, Alentejo, Lisbon and Algarve. 200M Fund is an equity and quasi-equity fund whose purpose is to invest in small and medium enterprises (SMEs), in co-investment with the co-investors in order (i) to stimulate the incorporation and/or capitalization of companies, especially those in the early stages (seed, startup, later stage venture - series A and B); and (ii) to promote the growth of venture capital in Portugal by mobilizing specialized Portuguese and international venture capital companies that, in addition to financial investments, help companies obtaining knowledge and technical, commercial and financial expertise.

About All Iron Ventures
Promoted by the founders of Ticketbis (sold to eBay in 2016) and with ~€100Mn under management, All Iron Ventures invests in startups across diverse sectors, typically focusing on marketplace, subscription and e-commerce business models in both Europe and the Americas. All Iron Ventures puts its experience creating, expanding and selling companies at the disposal of founders to help them take their projects to the next level. For more information:;
Copyright © 2020 Indico Capital Partners, All rights reserved.

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