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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.

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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.

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.

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.

Saswat Finance raises $2.6 Mn led by Ankur Capital

EntrackrEntrackr · 1m ago
Saswat Finance raises $2.6 Mn led by Ankur Capital
Medial

Saswat Finance raises $2.6 Mn led by Ankur Capital Saswat Finance, a Mumbai-based fintech platform, has raised $2.6 million in its pre-Series A funding round led by Ankur Capital. Incubate Fund Asia, an existing investor, also doubled its investment in this round. The startup previously raised seed funding from investors like Seedstars VC, Sparrow VC, and Incubate Fund Asia. The proceeds will help Saswat expand its technology capabilities, introduce new financial products, and scale operations across Maharashtra, Karnataka, and Uttar Pradesh. The funding will also be used to enhance its data and analytics infrastructure and broaden its product portfolio. Founded in 2022 by Arun Tiwari, Indrajyoti Bhattacharjee, and Ravi Ranjan Chaudhary, Saswat Finance uses proprietary technology and alternative data, such as milk production and geographic trends, to enable efficient delivery of credit, insurance, and advisory services to underserved segments. “India’s rural segments — over 65% of the population — are underserved by traditional financial services. At Saswat, we blend technology and trust to bring financial services directly to their doorstep. This funding will help us deepen our reach and scale operations,” said Arun Tiwari, CEO of Saswat Finance. Saswat claims to have onboarded over 6,000 customers and disbursed more than Rs 55 crore in asset-backed loans.

Navanc raises $1 Mn in seed round

EntrackrEntrackr · 7m ago
Navanc raises $1 Mn in seed round
Medial

Fintech startup Navanc has raised $1 million in its seed round led by Prarambh Ventures, with participation from Inflection Point Ventures (IPV), Brigade REAP FirstPort Capital, and marquee angel investors. The proceeds will be directed toward expanding operations across India, with a focus on strengthening Navanc's presence in urban and semi-urban areas. Additionally, the startup will ramp up its AI FinTech capabilities by incorporating Generative AI and Computer Vision models. Founded by Nagachethan S M and Byomkesh Jha, Navanc introduced an AI-powered property score and stack, specifically designed for secured lending and insurance practices. By integrating advanced technologies like AI, IoT, and Blockchain, the firm ensures secure, transparent, and reliable transactions in the proptech sector. Its collateral reporting, powered by its AI and ML models, enhances credit decision-making and portfolio management for the BFSI industry. Currently operating across tiers of cities in about 6 states, Navanc is focused on expanding its reach to all states under its Bharat Vision.

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