In a powerful demonstration of resilience and ambition, Ukrainian-born healthtech marketplace Liki24 has secured a significant $9 million in a Series A funding round. This cash injection is earmarked for an aggressive expansion across Europe, further solidifying the company’s burgeoning presence on the continent and underscoring the vibrancy of Ukraine’s tech sector.
The investment round was a strong vote of confidence from a consortium of Ukrainian and international venture capital firms. Ukrainian funds including u.ventures, TA Ventures, iClub, N1 Ventures, SID Venture Partners, and DniproVC were joined by Kazakhstan’s MA7 Ventures. The funding will be pivotal in launching operations in several new European markets and enhancing the capabilities of its innovative online platform for ordering medications and health products.
Currently, Liki24 operates in nine European countries: Italy, Germany, Ukraine, Romania, France, Austria, the Netherlands, Belgium, and Spain. The company has demonstrated remarkable growth, doubling its pace in the EU market in 2024 alone. European operations now account for a substantial 60% of the company’s total revenue, a testament to its successful international strategy.
“Given its growth rate, strong partnerships, and clear business model, Liki24.com has every chance of becoming the main marketplace for health products for millions of Europeans”, stated Viktoriya Tigipko, founder and managing partner of TA Ventures.
Founded in 2017 by Anton Avrynsky, Dmytro Lyatambur, Sergiy Fadyeyev, Sergiy Klebanov, and Volodymyr Zubenko, Liki24 has rapidly become an essential service for over 2.5 million people. Its user-friendly website and mobile applications attract more than 3 million users monthly, offering a seamless experience for comparing prices and ordering from a vast network of over 13,000 sellers. In Ukraine, the platform partners with major pharmacy chains, allowing customers to reserve medications or opt for courier delivery.
The platform’s value proposition is clear: it empowers consumers to compare prices from a multitude of sellers and choose from various delivery options, including postal service, courier, or self-pickup. This model has proven effective, with the average order value ranging from 1600-1700 UAH in Ukraine and the equivalent of 1700-2100 UAH in the EU.
This latest funding round brings Liki24’s total investment to approximately $15 million and signals a new phase of accelerated growth. As the company sets its sights on new European territories, the success of Liki24 serves as a powerful narrative for the global tech community, showcasing the innovation and tenacity of Ukrainian startups, even in the most challenging of times. The company’s trajectory suggests a potential valuation of $100-150 million within the next few years, making it a prominent player to watch in the European healthtech landscape.
Source: FORBES Ukraine
