This is the largest financing round for a Spanish start-up for home care, which was joined by 3 of the main social impact funds in Spain: Creas Impacto, Equity4Good managed by Ship2B and Fondo Bolsa Social.
The investment will make it possible to continue enhancing the technology for active follow-up of home care patients and expand its business model into the 20 main cities in Spain.
QIDA, a social impact company focused on improving the quality of life and healthcare of in-home chronic patients and/or dependent persons and training the group of caregivers, has closed a EUR 3.6 million financing round led by Creas, a pioneering management company for impact investing in Spain. The capital raised through this round, which was also joined by other impact funds such as Equity4Good, the vehicle managed by Ship2B, and Fondo Bolsa Social, will be mainly used to transform the home care service provided to these patients thanks to high-quality care and a proactive, technology-based monitoring system.
QIDA has already provided healthcare to more than 1,500 families and currently generates more than € 600,000 in monthly gross sales, which represents a monthly growth of 20% since its incorporation
Founded two years, QIDA has already provided healthcare to more than 1,500 families and currently generates more than € 600,000 in monthly gross sales, which represents a monthly growth of 20% since its incorporation. With this new capital inflow, the company will reinforce its technological product, consolidate its team and expand its model into Spain’s 20 main cities, which will allow the company to provide its services in more than 30 Spanish cities.
According to Oriol Fuertes, QIDA’s CEO, thanks to this capitalisation, the company will be able to “radically transform the home care provided to chronic patients and/or dependent persons, and therefore to address one of the most significant challenges of our society for the times we are living in today. This will allow us to continue enhancing a model based on quality, technology and humanity. We thank Creas for its leadership in this round, Ship2B for its support since our beginnings and Fondo Bolsa Social for the trust it has placed in us in joining this major challenge to make the world a better place. We are very proud to rely on the support of three of the largest social impact funds in Spain, which is undoubtedly a remarkable achievement and something we are very proud of at QIDA”.
In turn, Emilio Ayanz, a partner at Creas and also an advisor at QIDA, comments: “It is a privilege to be part of a project so in tune with our purpose of creating a meaningful world. We share the same dream as QIDA and believe in the urgent need to provide robust, effective solutions to the home care sector. We are happy to make a contribution to the team led by Oriol, a team of extraordinary professionals and people, to continue generating a positive impact on society”.
QIDA, a company of Spanish origin, relies on a business model based on the collaboration between the public and private health and social systems in Spain. It currently collaborates with more than 100 entities in the system. The company, which believes in the differential impact technology can make, has an App to enable the follow-up of patients in their homes while also allowing healthcare professionals to monitor their condition at home.
Additionally, QIDA guarantees high-quality care through a prior selection process for caregivers (“Qiders”), combined with training modules and an ongoing quality assurance process carried out by QIDA’s social workers and nurses.
A crucial sector
The current health crisis highlights the urgent and increasingly important need to strengthen the healthcare sector, a critical industry in our country, and to restore the value and social status of the caregivers group. In this respect, the company advocates the establishment of significantly higher salaries than the industry average, training their Qiders (it has a team exclusively dedicated to providing them with ongoing support) and creating a community of Qiders, an effort that will be enhanced by this new financing round.
QIDA was founded by Oriol Fuertes, its current CEO. Oriol has more than 10 years’ experience in the health and social sector, where he has provided advice to more than 10 regional or national governments in connection with their chronic patient strategy. Oriol is one of the 30 persons who are changing the world (according to LBSR) and one the 20 persons under 40 years of age selected within the Young Executive Programme of the International Hospital Federation. He is currently an advisor for the Government of Catalonia in its Integrated Health and Social Care Programme (PAISS). Qida closed a €1,2M financing round in 2018, which was joined by Equity4Good, the vehicle managed by Ship2B, and BStart-up, a seed investment vehicle owned by Banco Sabadell.
For further information: www.qida.es