Fintech
Gurugram-based Care.fi secures USD 2.6 million to enhance healthcare fintech solutions
You are reading Entrepreneur India, an international franchise of Entrepreneur Media.
Healthcare-focused fintech startup Care.fi has announced raising USD 2 million (INR 16 crore) in debt capital from Trifecta Capital and another USD 0.6 million (INR 5 crore) from UC Inclusive Credit.
The capital raised will be used to broaden the portfolio, scale up, enhance the business and strengthen the team size.
“We are deploying this funding across two important building blocks, namely expanding and growing the business and strengthening the team with new relevant talent to reach new heights. We are already working with over 50 renowned hospitals and have helped over 2,000 patients with their claims. With this funding, we will increase our footprint and continue to invest in improving healthcare financial technology, especially to optimize the operational part of hospital management,” said Vikrant Agrawal, co-founder of Care.fi.
Founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company that offers smart financing solutions to hospitals, doctors and allied providers.
The organization facilitates operations and accelerates growth by meeting the financial needs of healthcare providers and institutions.
The Gurugram-based startup also received an NBFC license within two years of starting operations.
Sidak Singh, Co-Founder, Care.fi, added, “In the last financial year, our total disbursements increased 4x, with cumulative disbursements reaching USD 48 million (INR 400 crore). The path is only upwards from here. Based on our understanding of the market and patient pain points, we have seen that optimizing the operational side, especially for insurance at a time when patients are anxious to get their payments done and go home, is very important. We are now seeing this rapidly growing ecosystem emerge and hope to continue improving it.”