About LifeBank
LifeBank is a company based in Lagos (Nigeria) founded in 2015 by Ayo Michael Olufemi.. LifeBank has raised $240 thousand across 5 funding rounds from investors including Black Founders Fund, EchoVC Partners and Fola Laoye. LifeBank operates in a competitive market with competitors including Tomorrow Health, Zoplar, AA Medical Store, Vamstar and Medinas, among others.
- Headquarter Lagos, Nigeria
- Founders Ayo Michael Olufemi
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$240 K (USD)
in 5 rounds
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Latest Funding Round
$100 K (USD), Grant
Sep 06, 2022
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Investors
Black Founders Fund
& 3 more
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Employee Count
Employee Count
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Funding Insights of LifeBank
LifeBank has successfully raised a total of $240K across 5 strategic funding rounds. The most recent funding activity was a Grant round of $100 thousand completed in September 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Grant — $100,000
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First Round
First Round
(01 Jun 2016)
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2022 | Amount | Grant - LifeBank | Valuation |
investors |
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| Feb, 2018 | Amount | Seed - LifeBank | Valuation | EchoVC Partners | |
| Mar, 2017 | Amount | Grant - LifeBank | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in LifeBank
LifeBank has secured backing from 4 investors, including venture fund and angel investors. Prominent investors backing the company include Black Founders Fund, EchoVC Partners and Fola Laoye. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Founded Year | Domain | Location | |
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Tech focused Stage-Agnostic VC Firm investing in Sub-Saharan Africa and North America
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Founded Year | Domain | Location | |
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A social innovation fund based in Nigeria is operated.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by LifeBank
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
|
2016 |
Financial Statements - LifeBank
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Lifebank Comparisons
Competitors of LifeBank
LifeBank operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tomorrow Health, Zoplar, AA Medical Store, Vamstar and Medinas, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Provider of an online store for healthcare products
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| domain | founded_year | HQ Location |
B2B medical supply platform that simplifies procurement for hospitals and clinics by offering a wide range of medical devices, equipment, and consumables
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| domain | founded_year | HQ Location |
New and pre-owned medical equipment is retailed online.
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| domain | founded_year | HQ Location |
AI platform for automating procurement data in healthcare is provided.
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| domain | founded_year | HQ Location |
Provider of marketplace platform to buy and sell medical supplies and equipment
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| domain | founded_year | HQ Location |
Medical equipment is supplied by VIEBEG in Rwanda.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Lifebank
Frequently Asked Questions about LifeBank
When was LifeBank founded?
LifeBank was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is LifeBank located?
LifeBank is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is LifeBank a funded company?
LifeBank is a funded company, having raised a total of $240K across 5 funding rounds to date. The company's 1st funding round was a Grant of $3.15K, raised on Jun 01, 2016.
What does LifeBank do?
LifeBank was established in 2015 in Lagos, Nigeria, as an online platform focused on the procurement of medical products. Supplies for blood banks, oxygen, and consumables are offered to hospitals, clinics, and healthcare organizations. Operations center on facilitating efficient sourcing within the healthcare sector, with services tailored to regional needs in Nigeria.
Who are the top competitors of LifeBank?
LifeBank's top competitors include Tomorrow Health, Zoplar and Vamstar.
Who are LifeBank's investors?
LifeBank has 4 investors. Key investors include Black Founders Fund, EchoVC Partners, Fola Laoye, and Growth Capital Fund.