QIDA, a social impact company aimed at first, improving the quality of life and care of chronic and dependent patients living at home and second, at training the collective of caregivers, has closed a financing round of 3.6 million euros, led by Creas, a pioneer Spanish social impact fund.
The capital from this round, which was also participated by other social impact funds such as Equity4Good, the vehicle managed by Ship2B, and Fondo Bolsa Social, will be used to transform haw care is delivered through (1) Quality of care and (2) a proactive, technology-based monitoring and follow-up process.
Founded two years ago, QIDA has already served more than 1500 families, and currently generates a gross monthly sales of more than 600,000€, representing a 20% monthly growth since inception. With this new injection of capital the company will strengthen its technological product, consolidate the team and expand operations to the top 20 cities in Spain, thus serving a total of more than 30 cities in the country.
For Oriol Fuertes, CEO of QIDA, this capital will “allow us to radically transform care at home for chronic and/or dependent patients and thus respond to one of the most relevant challenges in our society nowadays. It will allow us to continue to enhance a model based on quality, technology and humanity. We thank Creas for leading this round, Ship2B for its support since our beginnings and Fondo Bolsa Social for their trust in joining us in this challenge to improve our world. We are very proud to count with the support of three of the largest social impact funds in Spain, it is undoubtedly a remarkable milestone”.
Emilio Ayanz, a partner at Creas and also on QIDA’s Board of Advisors, comments: “It is a privilege to be part of a project so in tune with our purpose of creating a world that makes sense. We share the same dream as QIDA and believe in the need to provide robust and effective solutions to the homecare sector. We are happy to contribute our part to the team led by Oriol, a team of extraordinary professionals and people, to continue generating a positive impact on society”.
QIDA, of Spanish origin, uses a business model based on the collaboration between the public and private health and social systems in Spain. Currently, it collaborates with more than 100 entities. The company, which believes in the differential impact technology can make, has an App to enable the follow-up with patients in their own homes while also allowing health care professionals to monitor their state becoming the eyes of thedoctor at home and fostering proactive care
Additionally, QIDA assures a high quality of care through a prior rigorous selection process for caregivers (“Qiders”), on top of which it adds training modules and a continuous quality assurance process carried out by a team of social workers and nurses.
A crucial sector
The current health crisis highlights the urgent and ever more important need to strengthen the healthcare sector and restore the value and social status of the caregiver collective. To address this the company defends establishing significantly higher salaries than industry average, training their Qiders (it has a team exclusively dedicated to providing continuous support to them) and creating a community of Qiders, efforts which will be enhances by this latest financing round.