Mednefits raises $8m in Series A funding round

The medical benefits platform has connected over 50,000 employees to 2,000 healthcare providers.

Singaporean employee medical benefits platform Mednefits has raised $8m in its Series A funding round.

The funding round was led by Malaysian BLoyalty, owner-operator of B Infinite, a digital engagement platform that serves merchants across many industries both in Singapore and Malaysia.

Mednefits connects companies and employees directly to medical providers through a platform that tracks and processes claims in real time.

To date, Mednefits has bridged more than 50,000 employees from 500 companies in Singapore and Malaysia, including 7-Eleven, Fish & Co, and ViewQwest, to over 2,000 healthcare providers.

B-Infinite will also work with Mednefits to automate the medical benefits for its clients’ employees in Singapore and Malaysia, amounting to $18m by 2021.