Care.fi raises INR 8 crore in impact debt funding

New Delhi: Care.fi has secured INR 8 crore in debt capital to accelerate its growth. The startup received INR 5 crore from Wint Wealth (Ambium Finserve) and an additional INR 3 crore in impact debt funding from Caspian. The funds will support Care.fi’s expansion and its vision of becoming India’s first healthcare-focused Small Finance Bank.

Sidak Singh, co-founder of Care.fi, expressed, “Since our inception, we have witnessed remarkable growth, and this funding will help us scale our book size further. Last financial year, we witnessed a growth of 4x in total disbursals, reaching cumulative disbursals of INR 400 crore. This brings a step closure to bring the necessary change in the health-fintech space.” 

He added, “We are attuned to the pain points of the market and the patients, so our solutions help in optimizing the operational bit, especially for insurance, at a time when patients are eager to wrap up payments and go home. The idea is to help healthcare providers focus on providing healthcare while we take care of their operational challenges (or By optimizing operational processes, we enable healthcare providers to focus on patient care while we handle the operational and financial complexities) and we can see that it is emerging now as a fast-growing ecosystem and we hope to continue improving it.”

With this funding, Care.fi is poised to further strengthen its operations, invest in top talent, and expand its reach in the Indian healthcare fintech landscape. Care.fi’s achievements include obtaining a Non-Banking Financial Company (NBFC) license within just two years of operation, solidifying the company’s role in transforming healthcare financing in India. 

Co-founder Vikrant Agrawal highlighted, “Our focus currently is on two major building blocks, i.e. strengthening the team with the right talent and focusing on expansion and growing the business. We are currently working with more than 50+ renowned hospitals and have helped 2,000+ patients with their claims. This funding will help us further increase our presence in the market and invest in the betterment of healthcare fintech especially for optimizing the operational end of hospital management.”