Healthcare-focused fintech startup Care.fi has raised Rs. 6 crore in debt funding from RevX.
The proceeds will be used to strengthen its operations around the Ayushman Bharat scheme, which now covers over 550 million beneficiaries and includes more than 29,000 empanelled hospitals as of June 2024.
According to market research, Government healthcare spending has risen to 1.84 percent of GDP, supporting initiatives like AB-PMJAY.
Founded by Sidak Singh and Vikrant Agrawal, Care.fi provides tech-enabled financial solutions to healthcare providers.
The startup claims to have disbursed over Rs. 800 crore to more than 100 hospitals and secured an NBFC license within two years of its inception.
Care.fi plans to use its backend operations expertise to support faster claim settlements and improve hospital cash flow management as the scheme becomes more centralized.
Recently, Care.fi has secured Rs. 7.5 Crore in debt capital from Vivriti Capital to accelerate its mission of revolutionizing Revenue Cycle Management (RCM) for hospitals. With a strong emphasis on claims processing and financial automation, this funding will further expand the reach of RevNow by Care.fi, India’s most advanced AI-powered RCM platform designed to optimize hospital insurance claims and streamline revenue realization.
This latest investment follows Care.fi's previous funding rounds, which included Rs. 8 Crore in debt capital raised from Wint Wealth (Ambium Finserve) and Caspian, along with $2.5 Million (around Rs. 21 Crore) in debt from Trifecta Capital and UC Inclusive Credit. In total, the group has raised approximately Rs. 29 Crore to date.
