Wellmo raises EUR 1.3M to further expand its mobile digital health solution.

Wellmo, an Espoo, Finland company providing a mobile health platform for insurance and healthcare providers, announced raising EUR 1.3M ($1.4M) in an external equity investment round. The backers include institutional and private investors, which remain undisclosed, and the money will be used for fueling the sales expansion.

Wellmo, founded in 2012 as a spinoff by former Nokia employees Sampo Niskanen and Jaakko Olkkonen (CEO), has developed a cloud-based mobile platform for wellness service providers and corporate employers. The solution is tailored for insurance companies and healthcare providers in order to leverage mobile health technologies for new innovative services.

Prior to this investment, Wellmo raised about $2.5M in outside funding.