QubeHealth Plans Up To $9 Mn Raise For New Feature, AI Deployment

SUMMARY

Without naming the investors, QubeHealth’s founder Chris George told Inc42 that some of them have already backed the startup. However, the round is yet to be closed.

Founded in 2019, QubeHealth is a B2B2C startup which offers a payments system and healthcare credit line to employees who have a group health insurance policy provided by their employers.

The money will be used for launching an in-app marketplace on its app to offer healthcare solutions to the users like connecting with the doctors, locating clinics, etc.

Healthcare-focused fintech startup QubeHealth is looking to raise between $6-$9 Mn as a part of its Series A funding round.

Without naming the investors, founder Chris George told Inc42 that some of them have already backed the startup, but the round is yet to be closed.

Founded in 2019, QubeHealth is a B2B2C startup which offers a payment system and healthcare credit line to employees who have a group health insurance policy provided by their employers.

George said that the money will be used for launching an in-app marketplace to offer healthcare solutions to the users like connecting with the doctors and locating clinics, etc.

He said that some of the money will also be deployed towards integration of artificial intelligence for managing healthcare data for the users and families.

QubeHealth offers a platform with a pre-assigned credit limit from where users can borrow and pay the medical bills which are either not covered or partially covered by the health insurance provided by the employers.

The amount, the preferred healthcare provider and a payback period of up to one year are chosen by the user which are free for the employees.

Other than using the credit, the users can also use the UPI feature on the app or make card transactions via the QubeHealth app and avail discounts and rewards.

George said that with an aim to disburse over INR 3,000 Cr credit, the startup has disbursed over INR 1,500 Cr healthcare credits to employees of over 300 companies, so far.

QubeHealth earns revenue by charging a subscription fee to the employers.

This announcement comes less than a year after the startup bagged an undisclosed amount of pre-Series A funding from the likes of Inflection Point Ventures, Green Ivy Ventures and other family investment offices.

It is pertinent to note that some of these existing investors are also participating in the latest round.

The startup counts names like Axiomatic Ventures, Incubate Ventures, Dabur’s chairman Mohit Burman, among others as its backers.