Care.fi, a Gurugram-based fintech startup focused on healthcare, has successfully raised $2.6 million in funding. The investment includes $2 million (approximately Rs 16 crore) from Trifecta Capital and an additional $0.6 million (around Rs 5 crore) from UC Inclusive Credit.
Founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi specializes in providing smart financing solutions tailored for hospitals, doctors, and allied healthcare suppliers. The company aims to bridge crucial funding gaps within the healthcare sector, supporting the financial needs of healthcare professionals and institutions. This funding round is intended to scale Care.fi’s operations, expand its book size, enhance business capabilities, and strengthen its team.
According to a recent press release by Care.fi, the startup collaborates with more than 50 hospitals and has facilitated financial solutions benefiting over 2,000 patients. The company boasts a significant growth trajectory, with a reported fourfold increase in total disbursals, amounting to $48 million (Rs 400 crore) to date.
In addition to its operational milestones, Care.fi achieved a noteworthy milestone by obtaining an NBFC license within just two years of its inception. This achievement underscores the startup’s commitment to compliance and regulatory standards in the financial services sector.
The healthcare financing landscape in India is seeing increased innovation and investment, with Care.fi joining other prominent players like CarePay, SaveIn, and Bajaj Finserv Health. As healthcare continues to evolve, Care.fi’s role in facilitating smoother operations and fostering growth within the sector is poised to make a significant impact.
The recent funding round signifies a vote of confidence in Care.fi’s business model and its potential to address critical financial challenges in healthcare, paving the way for further expansion and innovation in the coming years.
