Qatar Development Bank invests in Hadiel Coop, empowering health-sharing concept for households, communities and gig-workers

In today's economic landscape, marked by soaring inflation, unemployment, healthcare costs and insurance premiums, the decision to access essential healthcare promptly is a challenge.

Nigeria and emerging economies face with fatal consequences. This often results in severe health crisis that go unmanaged due to a lack of funding, or it may force individuals to abruptly lean on friends and family during medical emergencies and acute illnesses.

Largely the informal economy, accounting for 60-65%, faces significant barriers being traditionally excluded from insurance.

Hadiel Coop is glad to announce an equity investment from the Qatar Development Bank(QDB), supported by the Qatar Fintech hub and Qatar Financial Centre.

This investment represents a milestone in fortifying Hadiel’s Coop mission of creating a health-sharing economy for gig-workers, communities and the informal sector at large to access health protection benefits by sharing medical expenses innovatively driven by technology.

Through this partnership with QDB, Hadiel Coop will intensify its mobilization efforts, expand its community outreach, and enhance member acquisition strategies. Subscribers will be availed of health security and an easier alternative to access essential healthcare simply by contributing funds together, sharing and smartly tracking health care expenses through a digital web-based application.

Co-founder/CEO, Tunde Salako, expressed his enthusiasm about the road ahead, highlighting the promising relationship this partnership fosters for their health-share model, particularly targeted at the informal sector.

Co-founder/CCO, Osi Akpene, equally excited, views this investment as an opportunity to footprint the model in the GCC region, while gaining valuable insights.

QFH is supporting with the likes of ecosystem builders such as Lars Gerhmann (Head of QIC DVP) who with his GCC insights and experience will be supporting the team in deepening penetration in their existing market and new ones.

Hadiel Coop is a pioneering health-sharing platform committed to providing communal health protection solutions. Through innovative financial models and strategic partnerships, Hadiel Coop empowers households and communities to access essential healthcare without the burden of skyrocketing medical costs.

Qatar Development Bank is a key driver of economic growth in the State of Qatar. By supporting entrepreneurs, SMEs, and emerging businesses, Qatar Development Bank plays a pivotal role in fostering innovation and diversifying the nation's economy.

Qatar Fintech Hub is dedicated to promoting fintech innovation and entrepreneurship in Qatar. By nurturing fintech startups and facilitating partnerships, the centre aims to position Qatar as a regional fintech hub.

For further information, please contact:

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