National, January 18, 2024: Bengaluru-based insurance-tech startup, Healspan, a key player in providing B2B insurance claims management software, has successfully raised ₹1.2 Crore in its recent pre-seed funding round. The funding was led by PedalStart, a prominent startup community-builder and accelerator. While marking Healspan’s inaugural institutional fundraising round since its establishment in 2022, the startup has, through strategic fundraising initiatives, accumulated a total funding of ₹1.7 Cr to date.
Healspan, with its revolutionary claims filing and tracking software, has played a pivotal role in helping over 60 hospitals across India seamlessly manage documentation, queries, processing, and other crucial aspects related to cashless health insurance claims. The newly acquired pre-seed capital will be instrumental in enhancing technology, acquiring talent, and overall business operations and growth. These funds will significantly contribute to expanding Healspan’s clientele, boosting subscriptions, and increasing revenue.
Co-Founders of Healspan, Mr. Sabarinath U and Mr. Abhi Sinha, expressed their enthusiasm about the pre-seed fundraising, stating, “We are thrilled to announce our pre-seed fundraise led by PedalStart – an exciting milestone in Healspan’s journey of empowering users across the country to experience efficient and hassle-free claims management. The funds raised will enable us to make significant product and tech-related enhancements and upgrades, especially in terms of optimizing the front-end of our flagship software. It shall further enable us to onboard the right talent, including core team members, so that we can focus on growing sustainably and profitably while increasing our clientele and impact.”
Manas Pal and Aditya Darolia, Co-founders of PedalStart, commented on the significance of Healspan’s solution in the Indian market, stating, “In today’s time when India is emerging as one of the fastest-growing insurance markets globally, technology-based solutions, i.e., insurance-tech tools and platforms, are creating a transformative impact for industry stakeholders.”
Healspan has been associated with PedalStart for over six months, during which PedalStart has played a pivotal role in supporting Healspan’s entrepreneurial journey. The ongoing support has resulted in Healspan increasing its revenue by 4x over the last four months.
Looking ahead, Healspan aims to expand its presence to more locations across India, serving at least 1000 hospitals by the end of 2025. The startup remains committed to its core focus of making cashless claim filing and tracking painless and effortless for hospitals and patients alike.
About Healspan: Healspan is an insurance-technology startup dedicated to streamlining cashless insurance claims for healthcare institutions, ensuring a seamless patient experience.
Website: https://healspan.com
About PedalStart: Launched in 2021, PedalStart is a platform that builds startup founders through real-life experiences, with the help of ex-entrepreneurs, successful startup founders, domain experts, and angel investors.
Website: https://pedalstart.com
