SaveIN raises funds, takes total seed round to $8m

By Leandra Monteiro

Gurugram-based Healthcare-FinTech start-up, SaveIN raised more capital riding on the rapid growth that the company has demonstrated in the first year of its launch.

The Y-Combinator backed start-up has now raised a total of $8 million over the last nine months, making it one of the larger early-stage rounds among Indian start-ups in the year 2022. The current round is led by Silicon Valley-based Pioneer Fund who is one of the earliest investors in the company. The company counts Y-Combinator, 10X Founders, Bayhouse Capital and Leonis Fund among its other key institutional investors.

SaveIN is building an integrated healthcare ecosystem where it connects customers to quality healthcare providers in its network and offers checkout finance to them, in the form of instant zero-cost EMIs thereby enhancing accessibility and affordability in private healthcare.

“We are truly humbled by the unwavering support we continue to receive from investors and partners alike. This funding round from existing investors, especially in the current phase, is a standout endorsement of our unique approach towards building a truly transformational business and need based business at the cusp of healthcare and finance. We will continue to invest in People, Product and distribution, to realize our vision of facilitating hyper-local, quality healthcare with enhanced affordability for one and all. Being healthy is priceless and SaveIN is committed to simplifying healthcare for Indians using the best of technology and relentless execution,” said SaveIN, Founder and CEO, Jitin Bhasin.

In a country like India, where penetration of private health insurance continues to be abysmally low and out of pocket expenditure puts a big strain on individual savings, health is widely touted to be the next frontier for on-demand credit and  SaveIN is positioning itself to address these issues in private health care.