BharatX expands into medical lending market with Zenifi acquisition

The acquisition marks BharatX's foray into addressing the pressing need for affordable medical financing options, leveraging Zenifi's expertise and establishing partnerships in the healthcare sector

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New Delhi: BharatX has acquired Zenifi, a healthcare finance startup specializing in zero-cost and low-cost EMI solutions. This strategic move signals BharatX’s entry into the medical lending segment.
Zenifi has been instrumental in providing affordable payment options to healthcare providers, facilitating improved conversion rates by offering accessible payment plans for patients’ treatments. With partnerships established across multiple hospitals and aggregators, Zenifi has generated an annual demand rate exceeding Rs. 1.2 crore.
As part of the acquisition, Padam Kataria, Co-founder and CEO of Zenifi, will join BharatX as the Head of Business – Healthcare. Leveraging his extensive experience gained from Navi and Zenifi, Padam will spearhead the development of BharatX’s healthcare lending vertical.
BharatX, known for providing credit as a service to end-users, has formed a longstanding partnership with Zenifi. This acquisition enables Zenifi to leverage BharatX’s established lending platform, realizing enhanced operational efficiencies. Moreover, it empowers BharatX to tap into the healthcare sector, which presents significant opportunities for credit solutions, particularly after the disruptive success witnessed in online shopping credit.
Mehul Jindal, Co-founder and CEO of BharatX, emphasized, “Healthcare sector in India faces a significant challenge when it comes to paying for medical services. This becomes a problem especially during emergencies. India continues to spend the largest amount for accessing healthcare through their own pockets, making availing medical facilities an expensive proposition. We have been working with Zenifi that is addressing this problem head-on by providing realistic and affordable solutions. This acquisition will allow BharatX to go deeper into the healthcare vertical where currently no fintech or traditional players are able to disburse credit instantly, which is critical in emergency healthcare.”
Padam Kataria, CEO of Zenifi, stated, “We have firsthand experience of making medical lending easy and accessible and with BharatX’s well-established credit as a service, the synergies between the two companies will ensure that we can accelerate the speed with which we capture the market. Our goal is to offer easy credit solutions to millions of Indians who are currently left with no choice but to pay OOP for medical situations.”