Gurugram-based Fintech Startup Care.fi Secures $2.6Mn Investment

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Care.fi, a healthcare-focused fintech firm, has raised $2 million (Rs 16 crore) in debt funding from Trifecta funding, with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit.
Care.fi said in a press release that the money will be used to expand its book size, improve the business, and develop its personnel.

Care.fi, a fintech startup created in 2021 by Sidak Singh and Vikrant Agarwal, provides smart finance solutions to hospitals, doctors, and affiliated suppliers. It fills financial gaps in the healthcare industry. The organization meets the financial demands of healthcare professionals and institutions, resulting in more efficient operations and faster growth.

The Gurugram-based startup has collaborated with over 50 hospitals and assisted over 2,000 patients. It also says that its total disbursals have increased by four times, totaling $48 million (Rs 400 crore).

Care.fi was also granted an NBFC license within two years of business. Other prominent participants in this market include CarePay, SaveIn, and Bajaj Finserv Health. “The cash will be critical in expanding our book size. In the previous fiscal year, our overall disbursals climbed by fourfold, reaching $48 million (INR 400 crore). “The journey only goes up from here,” said Car.fi cofounder Sidak Singh.

According to the Care.fi website, the startup, launched in 2021 by Singh and Vikrant Agarwal, provides financial solutions to hospitals, doctors, and affiliated suppliers such as supply chain financing, invoice discounting, unsecured business loans, and equipment financing.
Its marquee investors include Peak XV Partners. The move comes at a time when India’s healthcare loan market is experiencing a surge in M&A and finance activity.