Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt funds led by two key investors. Wint Wealth provided Rs 5 crore, while Caspian invested Rs 3 crore in impact debt capital.
The fundraising comes three months after the startup raised Rs 5 crore from UC Inclusive Credit. Before that, it raised Rs 16 crore from Trifecta Capital.
Operations improvement
With this capital, the Gurugram-based startup will focus on improving its operations and expanding its market presence, further supporting hospitals, healthcare providers and allied suppliers.
A significant portion of the funds will focus on optimizing hospital management operations, a crucial area where many healthcare institutions face financial and operational challenges.
“Since our inception, we have witnessed remarkable growth, and this funding will help us further expand the size of our book. Last year, we witnessed a 4-fold growth in total disbursements, reaching cumulative disbursements of 400 crores. This marks a step closer to bringing about the necessary change in the healthcare and fintech space,” said Sidak Singh, co-founder of 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 addressing financial obstacles in the healthcare sector. The startup offers smart financing solutions that serve hospitals, doctors, and related providers.
By doing so, the startup closes funding gaps that often hinder the smooth functioning and growth of healthcare institutions. In just a few years, the startup has established partnerships with more than 50 hospitals and served more than 2,000 patients.
“We are attuned to market and patient pain points, so our solutions help optimize the operational side, especially for insurance, at a time when patients are eager to finish payments and go home. The idea is to help healthcare providers focus on delivering healthcare while we take care of their operational challenges (or By optimizing operational processes, we allow healthcare providers to focus on patient care). as we manage operational complexities and financial) and we can see that it is now emerging as a fast-growing ecosystem and we hope to continue improving that,” Singh added.
Notably, Care.fi also received an NBFC license within two years of operation.
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