Singapore’s Mednefits concludes $5.95m Series A funding led by Berjaya's unit

Singapore-based employee medical benefits platform Mednefits announced on Tuesday that it has raised S$8 million ($5.95 million) in a Series A funding round led by BLoyalty, a wholly-owned subsidiary of Berjaya Corporation Bhd, which runs consumer marketing, property, and hotel businesses.

“Mednefits’ vision is to lead employee benefits transformation in Southeast Asia. We will use this investment to grow faster and further in Singapore and Malaysia, while also improving our product’s self-service capabilities by growing our technological know-how,” Mednefits chief executive officer Chris Teo said in a statement. 

“Digital technologies can help companies address several operational and business-related challenges. By having businesses of all sizes on Mednefits’ cloud-based platform, and an expansive network of panel clinics, we are able to offer competitive, and flexible corporate healthcare plans, while simplifying and automating reimbursements,” he added.