Fintech startup Care.fi secures Rs 8 Cr in debt

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.