PB Fintech’s Healthcare Venture Bags $218 Mn For Hospital Chain

SUMMARY

Its parent PB Fintech also participated in the round, along with other undisclosed external investors

The newly raised capital will be deployed to set up its hospital network in Delhi NCR, accelerating product development and tech innovation

The Policybazaar parent revealed that it invested INR 539.40 Cr ($63.24 Mn) in the healthcare arm, only a few weeks ago

PB Fintech, the parent company of Policybazaar, has said that its healthcare venture PB Healthcare secured $218 Mn (INR 1,843.17 Cr) as a part of its seed funding round led by General Catalyst.

The round also saw participation from PB Fintech, along with other undisclosed external investors.

The fundraise marks a 26% rise from its previously set target of raising INR 1,461.60 Cr ($166.01 Mn) in the seed funding round.

The Policybazaar parent revealed that it invested INR 539.40 Cr ($63.24 Mn) in the healthcare arm, only a few weeks ago.

The newly raised capital will be deployed in establishing PB Health’s initial hospital network in Delhi NCR, while also accelerating product development and technological innovation.

Further, PB Healthcare is looking to build an end-to-end healthcare platform that seamlessly integrates care and insurance.

“We are very excited to partner with General Catalyst in building the next chapter of healthcare in India. Our vision is to create a truly integrated healthcare ecosystem where patients can experience frictionless, high quality care. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India,” PB Fintech group chairman and CEO Yashish Dahiya said.

Shares of PB Fintech opened in green for the day. However, it closed 2% lower at INR 1607.30 apiece on the BSE today, compared to its previous close of INR 1640.10 per share.

Market capitalisation of the company currently stands at INR 73,816.42 Cr ($8.63 Bn).

On the financial front, PB Fintech reported a 92% jump in its consolidated profit after tax (PAT) to INR 71.54 Cr in Q3 FY25 from INR 37.23 Cr in the year-ago quarter. Its operating revenue also zoomed 48% to INR 1,291.62 Cr in the reported quarter from INR 870.89 Cr, in the previous year.

The insurtech major received the approval of its board to incorporate its healthcare arm in December last year, to address issues related to affordability of healthcare in the country for middle-class families and PB Fintech aims to bridge the gap between hospitals and insurance companies.

However, brokerage firm Bernstein expressed caution over its healthcare plans previously, arguing that it would mark a departure from an asset-light business model to an asset-heavy one.