Care.fi bags $957k to support healthcare-focused FinTechs in I

By Gloria Mathias

Care.fi, a-healthcare-focused FinTech startup that provides smart financing solutions to the healthcare sector, has recently raised $957k (INR 8 Cr) in debt capital, with $598k (INR 5 Cr) from Wint Wealth (Ambium Finserve) and impact debt capital of $359k (INR 3 Cr) from Caspian.

This funding will further fuel Care.fi’s vision of becoming India’s healthcare-focused Small Finance Bank.

Sidak Singh, co-founder of Care.fi, shared, “Since our inception, we have witnessed remarkable growth, and this funding will help us scale our book size further. Last financial year, we witnessed a growth of 4x in total disbursals, reaching cumulative disbursals of INR 400 crore. This brings us a step closer to bringing the necessary change in the health-FinTech space. We are tuned to the pain points of the market and the patients, so our solutions help in optimising the operational bit, especially for insurance, at a time when patients are eager to wrap up payments and go home. The idea is to help healthcare providers focus on providing healthcare. At the same time, we take care of their operational challenges (or by optimising operational processes, we enable healthcare providers to focus on patient care while we handle the operational and financial complexities). We can see that it is emerging now as a fast-growing ecosystem, and we hope to continue improving it.”

Care.fi’s achieved the milestone of receiving an NBFC license in just 2 years of operations. This achievement is a testament to the company’s commitment to revolutionising healthcare financing in India.

“Our focus currently is on two major building blocks, i.e., strengthening the team with the right talent and focusing on expansion and growing the business. We are currently working with more than 50+ renowned hospitals and have helped 2,000+ patients with their claims. This funding will help us further increase our presence in the market and invest in the betterment of healthcare FinTech, especially for optimising the operational end of hospital management,” shared Vikrant Agrawal, co-founder at Care.fi.