Yazen Health, a Swedish healthcare platform dedicated to combating obesity with modern weight loss medication and lifestyle changes, has raised €19.5 million in an oversubscribed Series A funding round. This is the largest round for a European startup prescribing GLP-1 drugs as part of its care in Europe to date.
Investment details
It was co-led by Evli Growth Partners that recently backed Preply and Bob W and Helsana HealthInvest with participation from Almaz Capital that backed Nomagic and marta and Yabeo. Existing Swedish investors Luminar Ventures and Aggregate Media also supported the startup.
The new financing will be used to scale the business internationally, including Spain, Norway, and the Netherlands, where they already have a strong foothold. It will also strengthen pilot markets in the UK and Germany. The company has plans to triple growth for the next 2-3 years, focusing on enhancing its offering, strengthening the organisation, and expanding into additional countries, to help the world become healthier.
The investment will also enable further development of Yazen’s app and holistic care service, which are designed to better support patients on their journey toward healthier lives.
New chairman on board
In addition to the investment, Yazen welcomed Mikael Hed, founding partner at Evli Growth Partners and former CEO of Rovio (creators of Angry Birds), as the new Chairman of the Board. His background in building and scaling an international brand will be an invaluable asset to Yazen as it enters its next phase of growth.
New era of weight loss control with medication
Obesity is one of the world’s most widespread health problems. Consequently, weight loss injections (semaglutides or GLP-1s) continue to dominate the news each day.
Founded in 2021 by Fredrik Meurling, Magnus Nyhlen MD, Henrik Bretz, and Martin Carlsson in Sweden, like other obesity startups, Yazen Health has been riding the upward trend of GLP-1 drugs like Ozempic, Wegovy, and Mounjaro. Its solution combines GLP-1 weight-loss and diabetes medications with lifestyle advice.
The company provides a complete care model where patients receive support from a dedicated team of doctors, YazenCoaches, psychologists, dietitians, and physiotherapists. It delivers a comprehensive solution reflected in excellent customer reviews and engagement. Besides the medication, the company’s collaborative approach creates magic for patients.
To date, Yazen has helped over 20,000 patients in Sweden, showing a 70% retention rate after one year.
“We are extremely proud of what we’ve achieved so far and the strong growth we’ve seen in Sweden. This funding gives us the opportunity to continue our mission to defeat obesity on a global scale. With Mikael Hed as our new Chairman and the support of our new investors, we are better positioned than ever to make a difference,” said Fredrik Meurling, CEO and Founder of Yazen.
“Yazen’s comprehensive offering has quickly demonstrated an impressive track record. I look forward to leading the board’s work and, together with both existing and new investors, continuing Yazen’s international expansion,” said Mikael Hed, Growth Partner at Evli Growth Partners.
The post Swedish startup Yazen Health raises €19.5M to combat obesity across Europe appeared first on Tech Funding News.