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Fintech startup Care.fi secures Rs 8 Cr in debt

EntrackrEntrackr · 9m ago
Fintech startup Care.fi secures Rs 8 Cr in debt
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt capital, securing Rs 5 crore from Wint Wealth and Rs 3 crore in impact debt capital from Caspian The Gurugram-based company had previously raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit three months ago. The fresh funds will be used to ramp up its presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. According to Care.fi, it is currently working with more than 50 hospitals and has helped over 2,000 patients. It claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore) last year. Care.fi has also received an NBFC license within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

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Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital

EntrackrEntrackr · 3m ago
Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital
Medial

Care.fi secures Rs 7.5 Cr in debt from Vivriti Capital Healthcare-focused fintech startup Care.fi has secured Rs 7.5 crore in debt capital from Vivriti Capital. This latest investment follows its previous funding rounds, which included Rs 8 crore in debt capital raised from Wint Wealth and Caspian, along with $2.5 million (around Rs 21 crore) in debt from Trifecta Capital and UC Inclusive Credit. In total, the group has raised approximately Rs 29 crore to date. The fresh funding will be utilized to accelerate its aim to empower Revenue Cycle Management (RCM) for hospitals and expand the reach of RevNow, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi aims to weed out the hassles of insurance claims, which remain a complex challenge for hospitals, often leading to delayed discharges, revenue leakages, and operational inefficiencies. According to the Gurugram-based company, its AI-driven RCM platform, RevNow, is making a significant impact by expediting claim settlements and ensuring hospitals receive payments within 3–5 days post-discharge. It enables 30-minute patient discharges by automating final billing and approvals, drastically reducing wait times. RevNow optimizes hospital workflows with real-time query notifications, automated responses, and integrated mailing services. It also enhances financial transparency by providing real-time reconciliation of cash flows at the entity, unit, and claim levels, offering hospitals greater visibility. “Since our inception, we have focused on solving critical operational pain points in hospital revenue management. With RevNow, we are setting new benchmarks in claims processing efficiency. This latest funding will enable us to scale further, helping hospitals optimize financial workflows while ensuring better patient experiences. As the healthcare ecosystem grows, we aim to continue innovating and improving revenue realization for providers,” said Sidak Singh, co-founder of Care.fi. Care.fi claims that it is handling over Rs 800 crore in claims across over 300 hospitals and auditing more than 50,000 claims. The platform also aims to expand RevNow’s capabilities and integrate further with hospital information systems (HIS), electronic health records (EHR), and billing platforms.

Care.fi raises Rs 6 Cr debt round from RevX

EntrackrEntrackr · 2m ago
Care.fi raises Rs 6 Cr debt round from RevX
Medial

Healthcare-focused fintech startup Care.fi has raised Rs 6 crore in debt funding from RevX. The proceeds will be used to strengthen its operations around the Ayushman Bharat scheme, which now covers over 550 million beneficiaries and includes more than 29,000 empanelled hospitals as of June 2024. Founded by Sidak Singh and Vikrant Agrawal, Care.fi provides tech-enabled financial solutions to healthcare providers. The startup claims to have disbursed over Rs 800 crore to more than 100 hospitals and secured an NBFC license within two years of its inception. Care.fi plans to use its backend operations expertise to support faster claim settlements and improve hospital cash flow management as the scheme becomes more centralized.

Healthcare focused fintech startup Care.fi raises $2.6 Mn

EntrackrEntrackr · 1y ago
Healthcare focused fintech startup Care.fi raises $2.6 Mn
Medial

Healthcare focused fintech startup Care.fi has raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital as well as an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit. The proceeds will be allocated towards scaling its book size, expansion, enhancing the business, and strengthening the team size, Care.fi said in a press release. Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company offering smart financing solutions to hospitals, doctors, and allied suppliers. It bridges the gaps in funding within the healthcare industry. The company addresses the financial needs of healthcare professionals and institutions, facilitating smoother operations and accelerated growth. The Gurugram-based company claims to work with more than 50 hospitals and helped over 2,000 patients. It also claims that its total disbursals increased by 4x, with cumulative disbursals of $48 million (Rs 400 crore). Care.fi has also received an NBFC licence within two years of operation. Other major players in this space are CarePay, SaveIn, and Bajaj Finserv Health.

Exclusive: FlexiLoans secures Rs 60 Cr debt from Vivriti AMC

EntrackrEntrackr · 1y ago
Exclusive: FlexiLoans secures Rs 60 Cr debt from Vivriti AMC
Medial

MSMEs-focused fintech lender FlexiLoans has raised Rs 60 crore via non-convertible debt from Vivriti Asset Management. The fresh funds come after a gap of around 20 months for the Mumbai-based company. The board at FlexiLoans has passed a special resolution to issue 6,000 non-convertible debentures (NCDs) at an issue price of Rs 1,00,000 per debenture for a consideration of Rs 60 crore in one or more tranches, as per the company’s regulatory filings with the Registrar of Companies. The company has already received Rs 30 crore as part of the first tranche from Vivitri Emerging Corporate Bond Fund (Vivriti Asset Management). The debt has a rate of interest of 12.9% per annum with a tenure of 31 months. The company intends to utilize the funds for the ongoing business operations. Founded by Deepak Jain, Manish Lunia, Ritesh Jain and Abhishek Kothari, FlexiLoans provides MSMEs access to collateral-free funds through its digital lending platform. The company uses proprietary technology and risk models to score customers and approve loans within 48 hours. FlexiLoans has more than 120 partners including companies like Amazon, Flipkart, BharatPe, Pine Labs, and Mswipe. FlexiLoans has raised over $115 million to date via equity and debt. In June 2022, it raised $90 million in its Series B round through an equity and debt mix from Fasanara Capital, MAJ Invest, and Caravel Group chairman Harry Banga’s family office along with existing shareholders including Sanjay Nayar. FlexiLoans’ revenue from operations surged 110.7% to Rs 108.5 crore during FY23 from Rs 51.5 crore in FY22. The company generates revenue from interest on loans, loan processing fees and other financial charges. As per the startup intelligence platform TheKredible, the company also turned profitable with Rs 6.66 crore profit in FY23 against Rs 10.8 crore loss in FY22.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 4m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

Exclusive: Fintech startup Zype secures debt

EntrackrEntrackr · 1m ago
Exclusive: Fintech startup Zype secures debt
Medial

**Title:** Exclusive: Fintech startup Zype secures debt Fintech platform Zype secured Rs 34 crore ($4 million) in debt funding from existing investors Xponentia Capital through Xponentia Opportunities Fund II. The Zype’s board has allotted 34,000 non-convertible debentures having face value of Rs 10,000 apiece to Xponentia Capital to raise the above mentioned amount, according to its filing with Registrar of Companies (RoC). The proceeds of this debt funding will be used to augment the long-term working capital needs of the company, the filing added. Founded in 2022 by Yogi Sadana, Zype is a fintech platform that provides instant personal loans of up to Rs 2 lakh with flexible repayment options. In addition to lending, it offers a credit analyzer to help users monitor their spending and a bill payment feature that rewards users with cashback. The company claims to have disbursed over 4.5 lakh loans and recorded more than 4.5 million app downloads across iOS and Android platforms. The fintech platform last raised funds in December 2022, securing Rs 146 crore (approximately $17.7 million) from its existing investor, Xponentia Capital. The Mumbai-based company reported Rs 20.3 crore in operating revenue for the fiscal year ending March 2024, while posting a loss of Rs 7.3 crore during the same period. Zype competes with several established personal loan platforms, including KreditBee, which reported a profit of Rs 200 crore in FY24 through its NBFC arm KrazyBee; CASHe, which posted Rs 651 crore in revenue; and Kissht, which recorded Rs 1,674 crore in operating revenue along with a profit of Rs 197 crore in FY24.

Technodysis secures Rs 10 Cr in debt from Recur Club

EntrackrEntrackr · 4m ago
Technodysis secures Rs 10 Cr in debt from Recur Club
Medial

Technodysis secures Rs 10 Cr in debt from Recur Club Bengaluru-based IT startup Technodysis has secured Rs 10 crore in debt funding from Recur Club, a debt marketplace for startups and SMEs. This funding is intricately structured, blending both secured and unsecured debt, spanning the fiscal years 2023 and 2024. The proceeds will be utilized to enhance its ability to scale operations, develop product offerings, and strengthen its presence in key international markets, Technodysis said in a press release. Founded in 2020 by Nithyananda Nayak, Technodysis specializes in a range of IT services, including software development, cloud computing, cybersecurity, data analytics, and AI applications. With a growing footprint, it has expanded to establish offices in the United States, the United Kingdom, and Dubai, in addition to its headquarters in India. Technodysis states that it leverages cutting-edge technology to drive digital transformation and optimize business operations. It continues to focus on delivering tailored solutions that enhance operational efficiency and foster innovation across a diverse client base. "It’s inspiring to witness Technodysis’s rapid growth. We aim to empower high-potential startups like Technodysis with the financing they need to succeed. This partnership exemplifies our commitment to fostering innovation and supporting the scaling of technology solutions," said Eklavya Gupta, co-founder & CEO of Recur Club. Technodysis has escalated its revenue from Rs 6 lakh in FY 2021 to Rs 20.25 crore in FY 2024. Looking ahead, the company projects revenue of Rs 35 crore for FY 2025, with a target of achieving Rs 200 crore over the next three years.

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