Care.fi raises ₹6 crore debt funding from RevX to drive Ayushman Bharat integration

New Delhi: Care.fi, India’s pioneering healthcare-focused fintech startup, has successfully raised ₹6 crore in debt funding from RevX. Care.fi will strategically deploy the capital raised to deepen its involvement in the Ayushman Bharat scheme, in line with the rapid expansion of the initiative.

The scheme is now set to cover over 550 million beneficiaries, while the network of empanelled hospitals has grown significantly, with over 29,000 hospitals onboarded as of June 2024. Additionally, government healthcare spending has risen to 1.84% of GDP, further strengthening the ecosystem for initiatives like AB-PMJAY.

This milestone funding adds momentum to Care.fi’s mission of bridging the financing gap in India’s healthcare system through smarter, tech-enabled financial solutions. With the National Health Authority aiming for more efficient claim settlements and faster reimbursements under the new structure of Ayushman Bharat, Care.fi’s backend operational expertise is well-positioned to play a critical role in enabling this transformation.

Sidak Singh, co-founder of Care.fi, shared, “Our focus has always been to ease the burden of operational and financial processes for healthcare providers. With the Ayushman Bharat scheme becoming more centralised and 60% of Hospital revenue coming from Insurance schemes, our solutions can seamlessly plug into this evolving framework and help hospitals manage claims and cash flows more effectively.”

Care.fi continues to expand its footprint across India, having already disbursed over ₹800 Cr to healthcare institutions and worked with 100+ hospitals. The startup also secured an NBFC license within two years of inception, a key milestone that validates its vision of becoming India’s first healthcare-focused fin-tech institution.

Vikrant Agrawal, co-founder at Care.fi, added, “This infusion from RevX will not only allow us to scale our operations but also enable better support for hospitals onboarded under the Ayushman Bharat initiative. We see this as a powerful step toward building a resilient and inclusive healthcare financing ecosystem in India.”