Care.fi Raises $2.6M to Accelerate Growth in Indian Healthcare- focused Fintech Sector

Care.fi Raises $2.6M to Accelerate Growth in Indian Healthcare- focused Fintech SectorNew Delhi, 9th July 2024: Care.fi a pioneering healthcare focused fintech startup focused on providing smart financing solutions to the healthcare sector, has successfully raised $2M (INR 16Cr) in debt capital from Trifecta Capital and an additional $0.6M (INR 5Cr) from UC Inclusive Credit. This funding round fuels Care.fi’s vision of becoming India’s first healthcare-focused Small Finance Bank.

“We have witnessed remarkable growth since our inception,” says Sidak Singh, co-founder of Care.fi. “The funds will be instrumental in further scaling our book size. In the last financial year, our total disbursals increased by 4x, with cumulative disbursals reaching $48M (INR 400Cr). The journey is upwards only from here. Based on our understanding of the market and the pain points of the patients, we have seen that optimising the operational bit, especially for insurance at a time when patients are eager to wrap up payments and go home, is very important. We are now seeing this emerge as a fast growing ecosystem and we hope to continue improving it.”

Care.fi’s swift progress is marked by the significant milestone of receiving an NBFC licence within just two years of operations. This achievement is witness to the company’s commitment to revolutionising healthcare financing in India.

“We are going to deploy this funding across two major building blocks, i.e. expansion and growing the business and strengthening the team with fresh, relevant talent to achieve new milestones. We are already working with more than 50+ renowned hospitals and have helped 2,000+ patients with their claims. With this funding we will increase our presence and continue to invest in the betterment of healthcare fintech especially for optimising the operational end of hospital management”, shared Vikrant Agrawal, co-founder at Care.fi

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous post Viraj Profiles and Avaada Pace Ahead in Their Green Journey with 130 MW DC Solar Energy Venture
Next post India Yamaha Motor associates with Smile Foundation to celebrate its 69th anniversary