SHS backs €6m round for Selfapy

SHS joined the round as a new investor. Existing investors Think.Health, Kreativwirtschaft Berlin and High-Tech Gründerfonds (HTGF) also participated in the round.

Selfapy intends to use the investment to support its national and international expansion, as well as to continue its clinical validation.

Cornelius Maas, senior investment manager at SHS, told Unquote that SHS is familiar with the digital health sector and had been following the market for a number of years when Selfapy came to its attention.

Maas told Unquote that the GP expects growth opportunities in the company to stem from Germany's digital care law (Digitale-Versorgung-Gesetz (DVG)), which was passed in November 2019. Maas told Unquote that the law will have a significant impact on the operation of digital health companies in Germany. The GP can foresee making a double-digit-million-euro investment in Selfapy in the future, said Maas, adding that the firm views the company as one with potential to become the leader in the European mental health market.

SHS invested from its fifth vehicle, SHS Fonds V, which held a final close in July 2018 on €90m. The fund has made five investments so far and plans to make a total of 15. SHS is currently seeking further investment opportunities in the market, as well as life sciences and healthtech as a whole, Maas told Unquote, including co-investment opportunities with generalist private equity investors, ranging from early-stage growth capital investments to small-cap buyouts.

Previous funding
In July 2017, HTGF and IBB invested a €1-9m sum in Selfapy.

Company
Selfapy provides online therapy for mental health conditions including depression, anxiety, eating disorders, burnout and symptoms of stress. The company currently has partnerships with 16 Germany-based health insurers.

The company was founded in 2016 by Nora Blum, Katrin Bermbach and Farina Schurzfeld. It is based in Berlin and has a headcount of 52, according to LinkedIn.

People
Selfapy – Nora Blum, Katrin Bermbach, Farina Schurzfeld (founders).
SHS – Corenelius Maas (senior investment manager).

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