Elma completed a $3.2M Series A funding round led by Mangrove Capital.

Elma, a Barcelona, Spain-based company building an insurance business for the health care industry, announced raising €3 million ($3.2M) in Series A funding.

The investment round was led by Mangrove Capital Partners and included other American and Spanish investors such as Joyance Partners, Antai Venture Builder (AVB) and Arroba Capital.

Funding will be used to build and launch a digital-first health insurance business in Spain.

Elma, founded in 2017 by Miguel Ángel Antón (CEO), Albert Malagarriga (CPO), and Miguel Vicente and Gerard Olivé, has benn building a number of digital healthcare tools that can be accessed via an app. The tools include a telehealth service that lets members talk to a doctor via video call and chat, providing remote primary care and digital prescription (it has a team of seven doctors to serve that from launch) — and a doctor search engine for finding a medical professional to deal with a specific condition (it has a pool of 23,000 doctors in Spain for in-person healthcare).

The team will be launching its first health insurance product in Spain by the end of 2019.