Gaia raises $20 million
Gaia, the London-based startup on a mission to make IVF more financially accessible, has raised $20 million from Atomico.
Founded in 2019, Gaia offers insurance and financing solutions for IVF treatments. The startup’s insurance product, which launches today, uses clinical data to predict the number of IVF rounds a couple/individual will need. After the prediction is made across 6 rounds of IVF, Gaia creates a financial package where a premium is required to start an IVF round. If the rounds do not result in having a baby, the insured is not required to pay anything aside from the premiums. If the treatment is successful, the insured pays for the completed rounds in monthly installments.
Essentially, Gaia offers insurance for unsuccessful IVF treatments and if a treatment works out, the couple/individual can spread out the cost via monthly payments.
Gaia claims to have developed the world’s first IVF insurance product trading in the Lloyd’s of London insurance market as a cover holder of Beazley.
“The fertility care model as we know it today is broken because the gap between those who want access to fertility treatments and those who can afford access is greater than ever. Three out of four people who seek fertility treatment never start because they believe the financial burden would be too large. With only one in seven people in the UK and US who require IVF being able to access it, we need to rethink how people access, experience, and pay for treatments which are physically and mentally taxing.” – Gaia CEO and founder Nader AlSalim.