Care.fi, a health-focused fintech startup, has raised Rs 8 crore in debt funding led by two key investors. Wint Wealth provided Rs 5 crore, while Caspian invested Rs 3 crore in impact debt capital.
The fundraise comes three months after the startup raised Rs 5 crore from UC Inclusive Credit. Before this, it had raised Rs 16 crore from Trifecta Capital.
Improve operations
With this capital, the Gurugram-based startup will focus on improving its operations and expanding its market presence, further supporting hospitals, healthcare providers and related suppliers.
A significant portion of the funds will be dedicated to optimizing hospital management operations, a crucial area in which many healthcare facilities face financial and operational challenges.
“Since our inception, we have seen remarkable growth, and this funding will help us further increase the size of our portfolio. Last financial year, we witnessed a 4x growth in total disbursements, reaching cumulative disbursements of Rs 400 crore. This marks a closing stage. to bring about necessary changes in the healthcare fintech space,” said Sidak Singh, Co-Founder, Care.fi.
What does Care.fi do?
Care.fi was co-founded in 2021 by Sidak Singh and Vikrant Agarwal, with the clear goal of overcoming financial barriers in the healthcare industry. The startup offers smart financing solutions for hospitals, doctors and related providers.
In doing so, the startup fills the funding gaps that often hinder the smooth operation and growth of healthcare institutions. In just a few years, the startup has established partnerships with more than 50 hospitals and supported more than 2,000 patients.
“We listen to market and patient issues. Our solutions therefore help optimize the operational side, especially for insurance, at a time when patients are eager to finalize their payments and go home. The idea is to help health care. healthcare providers focus on delivering healthcare while we take care of their operational challenges (or by optimizing operational processes, we enable healthcare providers to focus on patient care while managing the operational and financial complexities) and we can see this now emerging as a quick fix. -growing ecosystem and we hope to continue improving it,” added Singh.
Notably, Care.fi also received an NBFC license within two years of its operation.