Stout Advises PlusDental in Series C Funding
Stout announced that PlusDental, a German-based telemedicine start-up focused on dentistry, has successfully completed its EUR 32 million funding round led by Hong Kong based Ping An Global Voyager Fund (“Ping An”). Existing investors HV Holtzbrinck Ventures and Lakestar also participated in the round, as well as Christian Wegner, founder of the Berlin-based “re-commerce” platform Momox. Stout acted as the exclusive financial advisor to PlusDental in this transaction.
PlusDental is a Berlin-based, leading health-tech company specializing in the digitalization of dental treatments. The company has developed a digital platform for aesthetic orthodontic corrections and has already treated many thousands of patients together with its strong network of more than 70 local partner dentists. PlusDental offers its digital dentistry platform for patient acquisition and treatment monitoring, as well as training and laboratory products to registered partner dentists in five European countries: Germany, Austria, Switzerland, Great Britain, and Spain. The company manufactures its products in its own laboratory in Germany, to the highest medical and ethical standards. PlusDental is a leading brand for high-quality, affordable aesthetic dental corrections with a mission to provide the general public with broad access to innovative dental services.
Established in 2017 by Ping An, the Ping An Global Voyager Fund is a Hong Kong-based investor in growth stage fintech and health-tech companies. The fund typically invests between $15 million and $50 million in non-control positions in companies where an affiliation with Ping An is likely to create significant value over time. The Fund has invested approximately $300 million across Europe, Asia and North America. “We are delighted to lead the series C financing round of PlusDental. We are impressed how PlusDental connects highest standards of medical excellence with digitization. Therefore significantly contributing towards medical innovation and access to modern dentistry,” said Dr. Marco Huesch, Chief Medical Officer, Ping An Global Voyager Fund.
PlusDental’s Managing Director Eva-Maria Meijnen stated: “With Ping An Global Voyager Fund, we found the ideal investor that shares and supports our vision of revolutionizing dental care in Europe and beyond with unparalleled medical depth and world leading telehealth know-how. Stout enabled us not just to identify the right partner, but also to focus on our operational business during this challenging time. The Stout team has been a highly reliable partner throughout and fully dedicated to the success of this transaction.”
“The team of PlusDental has created a true European Digital Health Champion at record pace, backed by visionary investors. With Ping An Global Voyager Fund now joining, the team is best positioned to build a world-leading category champion. Stout is looking forward to further supporting this unique team on its journey,” added Mathis Wilke, Managing Director at Stout, who led the execution of the transaction.
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