Oslo, 26 May 2020 - Adevinta, through its Adevinta Ventures team, is investing for a second time in MEDWING, one of Europe’s leading healthtech companies, in a €28 million Series B funding round, led by Cathay Innovation, with participation from historical investors Northzone, Atlantic Labs and Cherry Ventures. This follows on from Adevinta’s first investment from December 2018.
Founded in 2017 and based in Berlin, MEDWING aspires to make working in the healthcare sector more attractive and to solve the shortage of healthcare personnel. The company empowers candidates to work in a flexible way to suit their lifestyle and supports hospitals. They help with the recruitment process and human resources management by applying innovative matching, communication technology and personal consultations.
Ovidiu Solomonov, VP Global Markets and Ventures at Adevinta, says: “Medwing gives power, autonomy and transparency to nurses, addressing some of the inefficiencies in the healthcare staffing industry. Medwing perfectly illustrates our view that digital marketplaces can help to unlock supply in sectors which are not yet fully online. This is why we chose to double-down on our investment in Medwing through their series B.”
With more than 200,000 professionals registered with MEDWING and 2,500 partner hospitals, nursing homes and medical practices Germany-wide, the technology company, founded by Johannes Roggendorf and Dr. Timo Fischer, operates the largest personnel pool and the most modern job matching system for the European healthcare sector. Every month, the company registers more than 15,000 new candidates, places over 100 healthcare experts in permanent positions and fills more than 2,000 individual shifts via its own platform all over Germany.
MEDWING will use the new capital from the financing round primarily to expand its technological lead and to develop further features, products and services that are specifically aimed at health professionals, hospitals and care facilities. The capital will also be used to expand its international business and team. Currently, MEDWING operates in Germany, France and the UK, with further countries to follow, and has a team of more than 200 employees from over 30 countries.
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Adevinta is a global online classifieds company with generalist, real estate, cars, jobs and other internet marketplaces in 16 countries, connecting buyers seeking goods or services with a large base of sellers. Its portfolio spans 36 digital products and websites, attracting 1.5 billion average monthly visits. Leading brands include top-ranked leboncoin in France, InfoJobs and Milanuncios in Spain, and 50% of fast-growing OLX Brazil. Adevinta was spun off from Schibsted ASA and publicly listed as an independent company in Oslo, Norway in 2019. The Adevinta is majority owned by Schibsted ASA.