PB Health Acquires Fitterfly To Strengthen Chronic Care Offerings

PB Fintech’s healthcare venture PB Health (PB Healthcare Services Private Limited) has acquired Mumbai-based healthtech startup Fitterfly to strengthen its chronic disease management offerings.

In a statement, PB Health noted that the acquisition marks a decisive step towards its goal to build a care model that reduces avoidable hospitalisations. 

“Chronic diseases like diabetes, hypertension, dyslipidemia, and obesity affect up to 40% of the adult population in India. The Fitterfly platform, with its strong clinical validation, proven outcomes, and significant IP, will add value to the PB Health platform,” Fitterfly’s cofounder and CEO Arbinder Singal said.

Founded in 2016 by Singal and Shailesh Gupta, Fitterfly offers personalised metabolic health and diabetes management solutions to users via data-driven nutrition, fitness, and behavioural coaching. Fitterfly had raised up to $17 Mn since its inception from investors like Fireside Ventures, Amazon Smbhav Venture Fund, 4point0 Health Ventures. 

Important to mention that Fitterfly has remained a loss-making entity in recent years, reporting a loss of INR 46 Cr on a revenue of INR 12 Cr in FY24. The startup’s losses expanded 19% from INR 39 Cr in the previous fiscal year while its revenue jumped 1.4X from INR 5 Cr.

The PB Fintech associated entity didn’t disclose the exact financial details of the deal. However, it noted that it would be eyeing the acquisition of more businesses and forging partnerships in the near future to grow its out-of-hospital network. 

With Fitterfly’s acquisition, PB Health plans on doubling down on establishing a fully integrated healthcare ecosystem across India. As of now, it is looking at setting up a 1,200 bed network across Delhi-NCR over the next couple of years, including a 270-bed hospital in Noida and two upcoming facilities in Gurugram. 

During PB Fintech’s Q2 earnings call, the company’s management shared that they would be adopting a long-term strategy for PB Health. This strategy will see it establish a “narrow healthcare network” that integrates select hospitals and care facilities into a controlled ecosystem.

“At PB Health, our strategy revolves around building a narrow, integrated network — ensuring that customers get the right care at the right level, whether primary, secondary, or tertiary. Over time, we’re working to make this ecosystem more controlled and tech-enabled, with select facilities becoming part of the preferred network,” the company’s management noted.

To power its healthcare ambitions, PB Health raised $218 Mn in May 2025. Unveiling the investors who partook in the seed round today, PB Health announced that it is backed by investors like General Catalyst, Faering Capital, Bay Capital, Think Investments, Avataar and Select Group. 

Important to note that PB Fintech holds a 28.46% stake in the subsidiary. The company invested INR 539 Cr ($60.8 Mn) in the subsidiary in the September quarter.

In the quarter PB Fintech’s net profit surged to 65% YoY to INR 134.9 Cr while its operating revenue zoomed 38% YoY to INR 1,613.6 Cr. Important to mention that its Q2 FY26 results also includes an impact of the aforementioned investment in PB Health.

Shares of PB Fintech were trading 3.5% lower at INR 1758 on the BSE at 02:40 PM today.