A personal finance company for immigrants, Fleri Inc., known widely for the FleriHealth product, which enables immigrants to buy affordable healthcare plans for their loved ones back home, has joined the Techstars Toronto Accelerator Program.
Since it launched in 2020, Fleri, which was founded by Ghanaian-born entrepreneur Samuel Baddoo, focuses on providing solutions and products that uniquely empower immigrants to take control of their financial lives. Knowing that 83% of the time, immigrants will send money to cover a health emergency faced by a dependent relative back home, Fleri released its first product: FleriHealth.
Baddoo says, “Fleri’s focus on empowering immigrants to flourish financially will be matched in turn by Toronto’s vibrant diversity and Canada’s reputation for being immigrant-friendly. This combination will create the perfect catalyst for Fleri’s growth, enabling us to develop relevant financial products with which immigrants will support their loved ones back home and enhance their own financial wellness.”
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Techstars, however, is a seed accelerator that runs an intensive mentorship-driven program for founders and early-stage startups and entrepreneurs. Fleri will join 10 other startups in the Techstars Toronto 2021 cohort as it sets its sights on global expansion.
FleriHealth enables immigrants, beginning with those from Africa, to directly sponsor healthcare plans for their loved ones and families back home rather than sending traditional money transfers.
In their pilot year, FleriHealth has enabled more than 220 family members to access quality healthcare in Ghana and Nigeria.
Fleri’s digital platform enables immigrant users to protect their loved ones back home without sacrificing their own financial wellness. Fleri customers and beneficiaries also receive health alerts and wellness reports to track the care given
Fleri partnered with five health insurance companies and other healthcare providers in its pilot markets giving the beneficiaries of immigrant’s access to healthcare benefits such as traditional health insurance coverage and more personalized care options.
The company also provides a concierge care service powered by 400 nurses for families of immigrants from Nigeria.
According to Baddoo, Fleri enhances peace of mind for immigrants, given the knowledge that their loved ones have healthcare coverage around the clock and by eliminating most of the fees and transaction costs paid through traditional money transfer services.
Fleri, which means “to Flourish” in Haitian Creole was borne out of Baddoo’s own experiences as an immigrant in the United States. After losing his grandmother last year due to the challenges within the healthcare system in his country of birth, Ghana, he set out to create a solution that will help fellow migrants avoid the same pain – one that immigrants in Canada know so well.
“Toronto is regarded as the most immigrant-concentrated city in the world, with 52 percent of our population being foreign-born,” says Sunil Sharma, Managing Director of Techstars Toronto.
“When we met the team at Fleri it became clear to us that they are solving such a fundamental problem in the minds of immigrants, how to ensure the health of their loved ones back home, no matter where they live.” Sharma said.
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