Bengaluru-based insurance-tech startup Healspan has secured Rs 1.2 crore in its pre-seed funding round led by PedalStart. The cumulative funding of Healspan has reached Rs 1.7 crore to date.
The proceeds will be allocated towards bolstering its technology, talent acquisition, and overall business operations and growth, Healspan said in a press release.
Co-founded in 2022 by Sabrinath U and Abhi Sinha, Healspan offers streamlined cashless insurance claims, removing the various difficulties and challenges involved in the process for healthcare institutions. Healspan says that customers can reduce the insurance payment turnaround time by 30% and long-overdue claims can be cleared under 90 days.
Healspan claims that it saw 4X growth in its revenue and has been focusing on adding new revenue streams and paid subscribers to the business.
The startup has its presence across multiple metros and tier I cities like Bengaluru, Chennai, Hyderabad, Delhi-NCR, and Mumbai. It is further looking to expand to more locations across India, while serving at least 1,000 hospitals by the end of 2025.
In a recent interaction with Entrackr, PedalStart’s co-founder said that the firm expects to onboard 2,000 founders to its community during this fiscal year and plans to invest in close to 20 to 30 startups at least, and accelerate close to 40 startups.
