HealthNow, based at the B:HIVE, Smales Farm, has announced a $3.4m capital raise, led by Icehouse Ventures, Brand Fund 1 and NZ Fintech Fund. The institutional funding round, the first for the Auckland-based company, will allow HealthNow to expand its mission to modernize the distribution of employee health benefits via the HealthNow Mastercard.
Founded in 2020 during the Covid pandemic by Steven Zinsli, a former executive at healthcare business Physio Connect, HealthNow is a healthcare funding platform designed to empower companies to play a more active role in the health of their people.
The HealthNow Mastercard allows employers to set a healthcare contribution amount and to choose the types of providers and industry sectors where the benefit can be spent. Paying with the HealthNow card – which can be used wherever Mastercard is accepted – generates an automatic expense report, eliminating the need for time-consuming and costly reimbursement processes.
HealthNow’s impressive funding raise was managed from the second floor of B:HIVE, New Zealand’s largest shared working space. With HealthNow expanding across New Zealand and into Australia – growing from 10 to 16 employees in recent months, with more appointments to come – Zinsli says B:HIVE provides exactly the right environment for a rapidly growing business such as his.
“It’s inspiring to be surrounded by other businesses doing amazing things, building connections that will help us along our scale-up journey,” he says. “Having a strong network is vital to any founder and CEO so shared spaces like the B:HIVE are a great call for anyone building their own business from the ground up.”
For HealthNow, this week’s capital raise is a moment for celebration, but Zinsli is already looking further ahead. As its customer base continues to grow, and with 8000 live users on the platform, the company has big plans for the rest of the year. The goal, however, remains the same: creating a more accessible and affordable health benefit system, while supporting better health outcomes for organisations and the people who work there.
The B:HIVE are enjoying watching HealthNow’s impressive growth journey – congratulations to all involved!
Download the “ROI of Employee Wellbeing” Report here!