Fintech Startup SaveIN Raises Seed Funding In a Round Led By Pioneer Fund The Gurgaon-based SaveIN raised funds to facilitate its vision of accessible and affordable healthcare for the Indian masses
By Paromita Gupta •
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On Monday, healthcare-fintech startup SaveIN announced that it had raised an undisclosed amount of funds through its seed round led by Pioneer Fund.
The 2020 startup founded by Anurag Varma, Gaurav Luthra, Jitin Bhasin has investors in the form of Y-Combinator, 10X Founders, Goodwater Capital, Bayhouse Capital, Soma Capital, and Leonis Investissement and has raised $8 million over past nine months.
Talking about the occasion, Jitin Bhasin, Founder and CEO, SaveIN shared "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."
Gurgaon-based SaveIn is built with the intention of facilitating accessibility and affordability in the healthcare segment, allowing healthcare providers to slip customer bills into 0% EMIs. The start-up works with reputed banks, non-banking financial companies, and payment partners.
Earlier this year, the Y-Combinator-backed firm launched its product by the name Care now, Pay later. The product has now expanded to cater to over 2500 healthcare and wellness centres across 50 Indian cities. Under its Phase one, SaveIN covered out-patient healthcare practices like Dental, Dermatology, Eye, Veterinary, Hair Care, Gym memberships, Preventive wellness and alternative therapies amongst others.
In a successful funding round for SaveIn, Tiffany Kuo, Senior Venture Partner at Pioneer Fund shared "We have been an early backer of SaveIN and a big believer that making healthcare more affordable is a great unmet need and thus offers unprecedented opportunities over the next decade. While the problem SaveIN is solving has a universal appeal, we have closely observed their execution in India market and couldn't be more excited to double down on our investment. They have run an extremely efficient business while scaling up rapidly since their launch earlier this year. We are confident that team SaveIN is best placed to address this vast market in India and beyond over the next years."
