“Can a femtech wearable company build a durable digital health platform for women's reproductive and menstrual health beyond the core fertility-tracking device?”
Ava was founded in 2014 as a femtech hardware company focused on fertility tracking through a wearable bracelet. The company raised ~$52M in venture funding between 2015 and 2018, growing into one of Europe's leading femtech brands. In 2022, Ava was acquired by FemTech Health, transitioning from an independent VC-backed startup to an operating subsidiary. The embedded finance angle is limited — Ava's known use of Evolve Bank & Trust suggests some BaaS or treasury relationship, but the core product remains a medical wearable device.
Ava discloses Evolve Bank & Trust as its banking provider, according to the Embedded Finance Index 2026.
Ava does not disclose a bank charter of its own; its banking services are provided through Evolve Bank & Trust.
The Embedded Finance Index 2026 maps 2 layers in Ava's stack: Banking / BaaS (Evolve Bank & Trust); Sponsor bank (Evolve Bank & Trust).
Ava was founded by Lea Von Bidder, Pascal Koenig, Philipp Tholen and Peter Stein and is founded in 2014, headquartered in Zürich, Switzerland / San Francisco, CA.
Ava has raised ~$52M in total (latest round: Acquired by FemTech Health, 2022).
Get a read on where your own stack stands against Ava and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.