Europe’s largest digital healthcare provider KRY has raised a huge £119 million investment.

Based in Sweden, the business will accelerate its growth plans in UK and throughout Europe.

“We are ambitious about our growth in the UK, and committed to bringing the benefits of our service to even more NHS patients,” a spokesperson told BusinessCloud.

“In the UK, we are working in partnership with the NHS to deliver our service to over 2.4 million patients.

“We have a UK office and our employees and clinical staff continue to grow as we win more NHS partnerships.”

KRY aims to transform the way millions of patients access health services in a digital age.

“When the company was founded in 2015, we recognised the enormous potential technology had to transform the way patients access healthcare,” said CEO and founder Johannes Schildt.

“Today, we’ve built a product that is already loved by millions of patients in Sweden, the UK, France, Germany, and Norway. Our ambition now is to expand into improving access to healthcare for millions more within Europe.”

The Series C round was led by Ontario Teachers’ Pension Plan (Ontario Teachers’) through its Teachers’ Innovation Platform (TIP), which focuses on late-stage venture and growth equity investments in companies that use technology to disrupt incumbents and create new sectors.

KRY’s existing investors Index Ventures, Creandum, and Accel also participated in the round. Maggie Fanari, Managing Director on the TIP team at Ontario Teachers’, will join KRY’s Board.

“Ontario Teachers’ believes strongly in our vision and is the perfect partner given its track record of long-term investments in leading businesses and focus on emerging mega-trends,” added Schildt.

“They will bring invaluable experience to our business as we look to further expand our operations and reach."

Olivia Steedman, senior managing director for the Teachers' Innovation Platform, said: “We are delighted to lead the Series C capital raise for KRY, the leading pan-European digital healthcare provider.

“The company is transforming how healthcare services are delivered to consumers through improved access and convenience, while at the same time relieving the pressure on highly strained healthcare systems.

“We are excited to partner with Johannes and his team to support KRY’s international growth ambitions and expand its medical offering across Europe.”