Healthcare-Focussed Fintech Startup Care.fi Bags Debt Funding From Wint Wealth, Caspian Debt

SUMMARY

Overall, Care.fi has raised INR 5 Cr from Wint Wealth and INR 3 Cr from Caspian Debt

Care.fi was founded by Sidak Singh and Vikrant Agarwal to offer financial assistance to healthcare professionals

The startup claims to have raised funding to enhance its market presence and fuel its healthcare fintech business operations

Healthcare NBFC Care.fi has secured a total of INR 8 Cr in debt funding from Wint Wealth (INR 5Cr) and an impact investment of INR 3 Cr from Caspian Debt.

The Gurugram-based NBFC plans to utilise the funds to enhance its market presence and operations, all while focussing on providing financial support to the healthcare sector. With the infusion, the NBFC also plans to increase its workforce.

Care.fi was founded in 2021 by Sidak Singh and Vikrant Agarwal to provide financial assistance to hospitals, doctors, and healthcare service providers. The company claims to have secured the NBFC licence in October last year.

“Our focus currently is on two major building blocks — strengthening the team with the right talent and focusing on expansion and growing the business. This funding will help us increase our presence in the market and invest in the betterment of healthcare fintech, especially for optimising the operational end of hospital management,” Agrawal said.

Care.fi claims to have witnessed a 4X growth in disbursals, reaching cumulative disbursals worth INR 400 Cr in FY24. Since its inception, the company claims to have worked with over 50 hospitals and has helped more than 2,000 patients with their claims.

Meanwhile, Wint Wealth is a fintech startup that secured an NBFC licence last year. Caspian Debt is a corporate lending financial service company that offers custom debt products to startups.

In July, Care.fi raised $2.6 Mn (around INR 21 Cr) in debt from Trifecta Capital and UC Inclusive Credit for business expansion and talent acquisition. The NBFC counts Peak XV Partners as one of its marquee investors.

Healthcare financing has become a major segment in financial services with new entrants raising both equity and debt funding. A case in point is healthcare financing startup HealthCRED, which raised $1.2 Mn in a seed funding round last month.

Another healthcare startup Icanheal has secured INR 15 Cr (around $1.8 Mn) in a seed funding round led by IvyCap Ventures in July.