Singapore-based Ordinary Folk raises USD 5 Mn in pre-Series A round
Category: #health  By Pankaj Singh  Date: 2022-04-22
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Singapore-based Ordinary Folk raises USD 5 Mn in pre-Series A round

Ordinary Folk, a telehealth startup based in Singapore, has reportedly secured USD 5 million in a pre-Series A round of funding led by Monk’s Hill Ventures. The proceeds from this round will be used for expanding business operations and hiring in Hong Kong while also scaling in Singapore.

Founded by Sean Low in 2020, Ordinary Folk has two primary platforms: Noah which is introduced for the mental wellness, sexual health, and haircare of men whereas Zoey focuses on fertility, mental health, wellbeing, and sexual wellness.

Ordinary Folk has chosen Hong Kong as the next market to expand operations as there are many similarities between Hong Kong and Singapore. For instance, both countries are fast-paced and densely populated, and both have similar issues when it comes to healthcare.

Low explained that Hong Kongers and Singaporeans recognize similar issues like the inconvenience of visiting a doctor, fear of illegitimate medication, high healthcare costs, and the taboo attached to the health conditions of men and women.

The company stated that since its inception, its revenue has increased by nearly 130% and it has garnered more than one million unique visitors.

Ordinary Folk differentiates itself from other telemedicine companies by developing a complete healthcare stack. This includes medication logistics for non-description packaging. This also means that the company can create health evaluations that patients take before booking an appointment, thereby enabling doctors to make detailed diagnoses.

The health evaluations were developed in collaboration with health experts and doctors. The provider network of Ordinary Folk includes psychologists, therapists, physicians, and other specialists.

Peng T. Ong, Managing Partner and Co-Founder of Monk’s Hill Ventures revealed that it is difficult for millions of Asians to access proper care and treatment for stigmatized health conditions.

Through Zoey and Noah, Ordinary Folk is distinctly placed to bring value through the healthcare services journey of customers, create a wide range of treatment alternatives, and ecosystem where patients can be treated by medical experts.

Source credit:

https://techcrunch.com/2022/04/20/singapore-based-healthcare-startup-ordinary-folk-gets-5m-to-fight-stigma/



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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