CarePay projects to onboard 10,000 healthcare centers by FY24

New Delhi: CarePay- India’s pioneering fintech platform for building a financially inclusive healthcare ecosystem has recently achieved yet another milestone by recording a whopping 100% month-on-month growth in 2023.

Committed to offering patients easy access to quality healthcare by providing them with immediate capital, the platform is set to embark on an expansion journey by continuing to grow at a rate of 50%-70% month-on-month in the current quarter. Since its inception, CarePay has been moving on an upward trajectory backed by its robust business model and leadership team. In tandem to  this, CarePay also raised pre-seed capital of $850K from marquee investors in August 2023. The funds accumulated from Powerhouse Ventures, GSF, Bharat Founders Fund, 77 Capital, Untitled Ventures, and Amplify, have further aggravated the platform’s growth potential.

Commenting on the milestone, Gaurav Gupta, Co-Founder, CEO of CarePay, said, “We feel immense pride in offering inclusive financial products for healthcare which have ushered us to achieve exponential growth. We leverage a robust risk-adjusted growth model that has enabled us to grow at an evolved pace in a unit-profitable manner.”

“Further, with the fresh capital, we’re aiming to achieve a 20x increase in scale and reach profitability by the end of this year. Our unique B2B2C model can be attributed to this surge, enabling us to further our mission of breaking down financial barriers and creating a healthcare ecosystem accessible to all.”

Against the financially fragmented healthcare landscape, CarePay has made an inevitable mark by recording $10Mn worth of annualised transactions. Outperforming conventional market players to achieve this milestone, the company has also onboarded about 400 merchants in the last two quarters and is anticipating to onboard over 10K healthcare merchants by the end of this year. With almost double merchants and customers every month, CarePay has been able to establish a robust foundation, helping millions of people attain healthcare services.

Following the upward financial growth, CarePay has successfully built coveted partnerships with the industry’s key players. Possessing a strong partnership pipeline, the platform has partnered with more than a healthcare chain having over 100 centres, focusing on wellness, and 250+ centres-chain focusing on chronic disease management.

Backed by superior quality products that have worked well for both patients and doctors alike, the company has also collaborated with over 900 MNCs and more than 1000 clinics, specialising in delivering hearing and dental prosthetic solutions respectively. CarePay’s tremendous growth is a testament to its vision to empower every individual with the ability to prioritise their health, regardless of their financial situation. Striving to accelerate this traction even further, CarePay is continuing to expand its footprint, ensuring that no patient in India is denied access to healthcare due to financial constraints.