Indico Capital leads €2.6 million investment round in Zenklub
The Portuguese venture capital company Indico Capital has led a €2.6 million seed investment round in Zenklub, an online emotional health and well-being platform.
Apart from Indico, the startup also got investment from the Spanish fund All Iron, as well as a finance line from SME investments 200M and various Brazilian-based companies linked to the health and insurance sectors.
The company intends to consolidate as a leader in the online emotional health market both in Portugal and Brazil. It will use the money to invest in new technology and own content.
“In Brazil, the focus will be the company’s expansion into the corporate segment in order to establish emotional health as a benefit provided to clients and staff. In Portugal, the company will focus on end consumer investment and on boosting its Lisbon-based technology team”, it says in a communiqué.
Rui Brandão, a doctor and the CEO of Zenklub said in a statement that the “Covid-19 crisis had drastically changed all of our routines which creates anxiety, depression, panic attacks and other psychosomatic illnesses.”
“The demand for emotional health solutions has been growing, and as the crisis has spread, the online solution has become an obvious one. Our mission has always been to democratise access to emotional health services and in the current climate of social isolation and economic difficulty, our offer is more relevant than ever,” he says.
Last year, Indico Capital Partners invested a half a million euros in Zenklub, financing which at the time was used to expand its IT engineering teams and product in Lisbon.