Care.fi offering financing solutions to hospitals raises Rs 8 crore in debt

Healthcare-focused fintech startup Care.fi has raised Rs 8 crore in debt funding led by two key investors. Wint Wealth provided Rs 5 crore, while Caspian invested Rs 3 crore in impact debt capital.

The fundraising comes three months after the startup raised Rs 5 crore from UC Inclusive Credit. Prior to that, it raised Rs 16 crore from Trifecta Capital.

Enhancing operations

With this capital, the Gurugram-based startup will focus on enhancing its operations and expanding its market presence, further supporting hospitals, healthcare providers, and allied suppliers.

A significant portion of the funds will be focused on optimizing hospital management operations, a crucial area where many healthcare institutions face financial and operational challenges.

"Since our inception, we have witnessed remarkable growth, and this funding will help us scale our book size further.  Last financial year, we witnessed a growth of 4x in total disbursals, reaching cumulative disbursals of Rs 400 crore. This brings a step closure to bring the necessary change in the health-fintech space," said Sidak Singh, co-founder of Care.fi.

What does Care.fi do?

Care.fi was co-founded in 2021 by Sidak Singh and Vikrant Agarwal, with a clear goal of addressing financial hurdles in the healthcare sector. The startup offers smart financing solutions that cater to hospitals, doctors, and related suppliers.

By doing so, the startup bridges the funding gaps that often hinder the smooth functioning and growth of healthcare institutions. In just a few years, the startup has established partnerships with over 50 hospitals and assisted more than 2,000 patients.

"We are attuned to the pain points of the market and the patients, so our solutions help in optimizing the operational bit, especially for insurance, at a time when patients are eager to wrap up payments and go home. The idea is to help healthcare providers focus on providing healthcare while we take care of their operational challenges (or By optimizing operational processes, we enable healthcare providers to focus on patient care while we handle the operational and financial complexities) and we can see that it is emerging now as a fast-growing ecosystem and we hope to continue improving it," Singh added.

Notably, Care.fi has also received an NBFC license within two years of operation.