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# Czech Mental Health Platform Hedepy Raises €4M in Venture Debt to Fund Acquisitions
- URL: https://www.therecursive.com/czech-mental-health-platform-hedepy-raises-eur4m-in-venture-debt-to-fund-acquisitions/
- Published: 2026-11-10T09:52:45.000Z
- Updated: 2026-11-10T09:52:45.000Z
- Description: Hedepy, the Prague-based online therapy platform operating in nine European countries, has secured €4M in venture debt from Orbit Capital to fund acquisitions and expand into clinical care and AI tools — aiming to consolidate Europe’s fragmented mental health market.
- Author: The Recursive
- Tags: CEE, Deals, Hedepy, Czech companies

👯 **Founder(s):** Lukáš Krčil 

📅 **Founding year:** 2020 

🏭 **Industry:** Health / digital mental-health care (telehealth)

💥 **Problem:** Europe’s mental-health care market is highly fragmented — lots of small local providers — and access to quality care is uneven and often expensive.

📣 **Solution:** An online psychotherapy platform connecting clients with certified therapists, now expanding into comprehensive care: in-person locations, a dedicated clinical/healthcare arm, online psychiatry, and AI tools that support (not replace) human therapists.

👥 **Customers:** Individuals (B2C) and companies/employees via Hedepy For Business (B2B) — 300+ companies, 300,000+ employees; also partners with health insurers (Czechia, Slovakia). Operates in 9 European countries with 1,200+ professionals.

🎳 **Team size:** 2-10

🌱 **Stage:** Venture debt (growth-stage company)

💰 **Investment amount:** €4M (venture debt)

🚀 **Funded by:** Orbit Capital (venture debt provider).

👁️‍🗨️ **Investor’s perspective:** Lukáš Macko, Partner at Orbit Capital: *“Hedepy has built a credible position in the CEE mental health market, demonstrated a repeatable model for integrating acquisitions and is moving towards financial sustainability. We see venture debt as the right instrument for this stage — it allows the company to fund further growth without diluting shareholders.”*

💡 **It will be spent on:** Primarily strategic acquisitions (consolidating Europe’s fragmented market) and expanding services — clinical/in-person care, AI-powered tools, and insurer partnerships. 

💬 **In their own words:** Lukáš Krčil, Co-founder & CEO: *“We see debt financing as confirmation that Hedepy has developed into a financially sound and credible company. We have a proven business model, experience completing acquisitions and a clear plan for deploying the funding… We are building a comprehensive mental health care system in which people can find the right support online or in person. Qualified professionals remain the foundation of care; technology and AI should give them more time for their work with clients.”*

💪 **Their specialty:** Proven M&A playbook — last year acquired Polish workplace-mental-health platform HearMe and folded it into Hedepy For Business. Building Therapist Office (a digital workspace for scheduling, admin, invoicing and session insights) plus AI tools that help clients continue work between sessions. Facilitated 300,000+ sessions in 2025 (total value >CZK 315M, +78% YoY); expects to pass 1 million cumulative sessions by end of 2026.

🔑 **Business model:** B2C (individuals pay for therapy) + B2B (Hedepy For Business as an employee benefit) + insurer partnerships (co-payment). 

💸 **Funding so far:** €4M venture debt (this round), on top of a $1.3M seed round (May 2022). Total ≈ $5.8M raised to date, incl. debt.