Gurugram-based Care.fi Secures USD 2.6 Mn to Enhance Healthcare Fintech Solutions The raised capital will be used towards scaling its book size, expansion, enhancing the business, and strengthening the team size.
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Healthcare focused fintech startup Care.fi has announced the raising of USD 2 million (INR 16 crore) in debt capital from Trifecta Capital and an additional USD 0.6 million (INR 5 crore) from UC Inclusive Credit.
The raised capital will be used towards scaling its book size, expansion, enhancing the business, and strengthening the team size.
"We are going to deploy this funding across two major building blocks, i.e., expansion and growing the business and strengthening the team with fresh, relevant talent to achieve new milestones. We are already working with more than 50 renowned hospitals and have helped over 2,000 patients with their claims. With this funding, we will increase our presence and continue to invest in the betterment of healthcare fintech, especially for optimising the operational end of hospital management", said Vikrant Agrawal, Co-founder at Care.fi.
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.
The organisation facilitates easier operations and faster growth by attending to the financial needs of healthcare professionals and institutions.
The Gurugram-based startup has also received an NBFC licence within two years of operation.
Sidak Singh, Co-founder of Care.fi, added, "In the last financial year, our total disbursals increased by 4x, with cumulative disbursals reaching USD 48 million (INR 400 crore). The journey is upward only from here. Based on our understanding of the market and the pain points of the patients, we have seen that optimising the operational bit, especially for insurance at a time when patients are eager to wrap up payments and go home, is very important. We are now seeing this emerge as a fast-growing ecosystem, and we hope to continue improving it."
