Fintech startup SaveIN raises $4 million in seed funding
1 min read . Updated: 20 Apr 2022, 02:07 PM IST
Premium- The startup aims to utilize these funds for accelerating product development, strengthening in-house teams in engineering, product, data sciences, and sales while growing its network of healthcare practices across the country
SaveIN, a buy now pay later platform for healthcare, has raised $4 million ( ₹30 crore) in seed funding from investors based in Silicon Valley and Europe.
The Gurgaon-based start-up has secured funding from institutional investors including Y-Combinator, 10X Group, Leonis VC, Goodwater Capital, Nordstar, Rebel Fund, Pioneer Fund, Soma Capital and SCM Advisors, according to the press release.
The round also saw participation from Oliver Jung, Grant Park Ventures, Leblon Capital, Almagro GmbH, MyAsiaVC, Kube VC, Spenmo Founder Mohandass Kalaichelvan and serial healthcare entrepreneur VimalKavuru among others.
Jitin Bhasin, founder & CEO, SaveIN said, “We are humbled by the overwhelming response and support of world-class investors, who are backing our vision to revolutionize private healthcare in India. We aim to utilize these funds for accelerating product development, strengthening in-house teams in engineering, product, data sciences, and sales while growing our network of healthcare practices across the country."
The fintech start-up is creating a network of healthcare providers to offer embedded finance and pay later options at clinics across the country. The startup has onboarded over 500 healthcare and wellness clinics across five cities of India.
“Private healthcare in India is riddled with challenges of access, transparency, quality and affordability. We at SaveIN, aim to create India’s largest integrated private healthcare ecosystem, addressing these challenges through technology-first solutions, thereby enabling millions of Indians to avail of timely and quality care through enhanced affordability. In the process we aim to make healthcare providers across India serve up to 50% more patients through affordable EMIs," Bhasin added.
The company claims that it is focusing on outpatient and elective healthcare procedures like dental, eye care, veterinary, diagnostics, dermatology, haircare, fertility, wellness and alternate therapies among others. The company said it offers a 60-second, digital checkout finance option for patients at minimal or zero cost EMIs, across its network.
