Nigerian health tech startup Reliance Health raised $40 million in a Series B funding round led by General Atlantic, with participation from Partech, Picus Capital, Tencent Exploration, Asia Africa Investment and Consulting (AAIC), P1 Ventures, and others, making it the largest Series B round in the African health tech industry.

  • Reliance offers affordable health insurance, telemedicine, and a combination of partner and proprietary healthcare facilities to over 200,000 lives and 600 companies.
  • The funding, which brings the startup’s total funding to $48 million, will accelerate its efforts in expanding into emerging markets around the world.
  • It will also use the funding to add new products that complement existing proprietary technology, facilities, and partnerships, as well as hire additional top talent.