21st January 2021

Health Tech Firm Secures Further Development Bank Funding

A Cardiff-based female health specialist has secured a six-figure follow-on investment from the Development Bank of Wales.

Founded in 2017, Health & Her is a holistic menopause hub offering products, specialist advice and symptom tracking through its menopause app.

The Development Bank of Wales made an initial six-figure investment in 2019 alongside funding from a syndicate of angel investors and the Wales Angel Co-investment Fund. The Cardiff based health-tech company has grown five-fold over the last year.

In the second round of funding, the Development Bank has followed-up its equity investment alongside the angel syndicate and matched funding from the Wales Angel Co-investment Fund .

The money will enable the business to carry out product development and expand into mainstream retail. Health & Her expect to create up to 18 jobs and supply chain partners in Port Talbot and Conwy are also expected to benefit from the growth of the business.

Kate Bache, co-founder and chief executive at Health & Her, said: “Menopause can be life-changing for so many. By empowering women to consider body, mind and lifestyle –and giving them the tools to improve their experience – we hope to really change millions of women’s lives for the better.

“In fact, the research we’ve done with women has helped us understand just how complex menopause experiences and symptoms can be. It is really important that we constantly change and improve Health & Her by listening to the women we serve. It’s about finding the best ways to reach all women and making products and services more accessible. In a world of ever-changing communication methods and media trends, we need to make it really easy for women to find, use and feel supported by what we have to offer.

“This latest funding now means that we can scale-up with the help of the Development Bank as our long-term equity partner. From their initial investment in 2019, their ongoing support has been critical to our growth. We’re delighted to have them on the journey with us.”

Sarah Smith, of the Development Bank’s technology ventures team, added: “Health & Her is on a mission to track down the very best menopause finds, and share brilliant ideas that will change women’s lives for the better. With data at the heart of the offering, the business has recorded strong growth over the last year and plugged a gap in the market.

“Along with the continued support of the Development Bank and private angel investors, Health & Her is a home-grown business with an exciting future that is making a real difference to women’s lives. It’s great to see the impact that co-investment can make; bringing the real firepower of an institutional investor and the added value of angel investing.”