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Bengaluru-based insurtech startup Healspan has recently secured Rs 1.2 crore in a pre-seed funding round led by startup community-builder and accelerator PedalStart. The current round brings the startup's all-time raise to Rs 1.7 crore.
Enhancing technology
Healspan, known for its B2B insurance claims management software, claims to have served over 60 hospitals across India. The fresh capital will be channelled towards enhancing technology, talent acquisition, and overall business growth.
Sabarinath U and Abhi Sinha, Co-founders of Healspan, said, “We are thrilled to announce our pre-seed fundraise led by PedalStart – an exciting milestone in Healspan’s journey of empowering our users across the country to experience efficient and hassle-free claims management. From the long-term perspective, it steers us in the right direction towards realizing our mission of making healthcare administration effortless via automating and streamlining claims management using SaaS technology."
What does Healspan do?
Founded in 2022 by Sabrinath U and Abhi Sinha, The startup offers streamlined cashless insurance claims, removing the various difficulties and challenges involved in the process for healthcare institutions.
It claims to have reduced the insurance payment turnaround time by 30%, and long-overdue claims can be cleared under 90 days.
Healspan's growth
Healspan has witnessed a 4x increase in revenue in the past few months and is actively working on adding new revenue streams. With a strong presence in major metros and tier 1 cities, the company aims to expand its reach to at least 1000 hospitals by the end of 2025. This expansion is part of their broader vision to make cashless claim filing and tracking effortless for hospitals and patients.
Looking ahead, the company plans to serve a wider range of users beyond the healthcare sector, addressing various pain points in the insurance and finance industries.
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