Fleri Inc, startup that puts the immigrant financial wellness at the forefront joins the Techstars
Fleri Inc., a private immigrant finance company well known for the
The FleriHealth product, which enables immigrants to purchase affordable health plans for loved ones at home, will join the Techstars Toronto Accelerator program starting this October.
Techstars is a Seed Accelerator that runs an intensive mentorship-driven program for founders and start-ups and entrepreneurs in the early stages. Fleri will join 10 other startups in the Techstars Toronto 2021 cohort to keep an eye on global expansion. The Techstars Toronto Accelerator Program offers mentoring, funding, and access to its network, starting with a demo day at the end of the guided program. Once selected, startups can present to a carefully curated group of investors.
Founded by Ghana-born entrepreneur Samuel Baddoo, Fleri has kept the immigration experience at the forefront of its mission since its inception in 2020. The company focuses on providing solutions and products that uniquely enable immigrants to take control of their financial lives. Knowing that 83% of the time immigrants send money to cover a health emergency faced by a dependent relative at home, Fleri released its first product: FleriHealth.
FleriHealth enables immigrants, starting with Africans, to directly sponsor health plans for their loved ones at home instead of sending traditional money transfers.
In the pilot year, FleriHealth gave more than 220 family members access to quality healthcare in Ghana and Nigeria.
Fleri has partnered with five health insurers and other health care providers in its pilot markets to provide immigrant benefit recipients with access to health benefits such as traditional health insurance coverage and more personalized care options.
The company also offers a concierge service operated by 400 nurses for families of immigrants from Nigeria.
According to Baddoo, Fleri increases peace of mind for immigrants by providing their loved ones with 24/7 health insurance and eliminating most of the fees and transaction costs paid through traditional money transfer services.
Fleri’s digital platform enables migrant users to protect loved ones at home without sacrificing their own
financial wellbeing. Fleri customers and beneficiaries also receive health alerts and health reports to track care, which underscores the platform’s ability to improve access to life-saving information.
Fleri, which means “flourish” in Haitian Creole, was born out of Baddoo’s own experience as an immigrant in the United States. After losing his grandmother to health challenges in his native Ghana last year, he set out to find a solution that would help other migrants avoid the same pain – one that immigrants in Canada know so well.
“Toronto is considered the city with the highest immigration density in the world, 52 percent of our population were born abroad,” says Sunil Sharma, CEO of Techstars Toronto.
“When we met the Fleri team, we realized that they were solving such a fundamental problem in the minds of immigrants how to ensure the health of their loved ones at home, no
no matter where you live.
Although Fleri’s primary focus is on health care for families of migrants living in the diaspora, Sharma recognizes that Fleri’s potential goes beyond health care.
“Fleri has a tremendous opportunity to expand its products beyond health care funding through referrals to give immigrants full control over their financial lives,” says Sharma.
“Toronto immigrants are constantly thinking about loved ones back home and wanting to do more to support them. Fleri finally enables them to take action and change their lives immediately. “
Speaking of expanding its business, Baddoo said, “Fleri’s focus on enabling immigrants to thrive financially is in turn offset by Toronto’s vibrant diversity and Canada’s reputation as an immigrant-friendly location. This combination will be the perfect catalyst for Fleri’s growth and allow us to develop relevant financial products that immigrants can use to support their loved ones at home and improve their own financial wellbeing. “