Healthcare-focused fintech startup SaveIN on Thursday said it has raised fresh funding as part of its two seed rounds from existing investors Guernsey-based Bayhouse Capital and 10X Group founders.
The latest rounds took SaveIN’s total seed fundraise to over $7 million (around Rs 54.6 crore).
SaveIN was set up in 2020 by ex-banker and fintech professional Jitin Bhasin, who teamed up with Gaurav Luthra (ex-founder of What’s Up Life) and Anurag Varma (ex-EY Hong Kong).
The Gurugram-based company claimed to have expanded reach of its care now, pay later product to over 1,000 healthcare and wellness providers across India.
“Since the launch of our business in January this year, we have grown to over 1,000 partners today coinciding with us raising a total of $7 million in seed funding over the last quarter. With over two million healthcare providers in India, we have a long way to go,” said Jitin Bhasin, founder and chief executive officer of SaveIN.
“We are catering to a huge market in India, helping people split their healthcare and wellness expenditure into affordable EMIs. These are need based services and procedures and we facilitate the entire process in a tech-enabled environment, in partnership with our healthcare provider network,” he added.
The fintech space in India is gaining a lot of investors’ attention.
Earlier this month, fintech Innoviti announced closure of its Series D fundraising process with a corpus of $45 million.
In June, Mewt, a banking app for micro, small and medium enterprises (MSMEs) of India, raised $4.6 million in a seed funding round led by global fintech investor Quona Capital.
Mumbai-based A91 Partners also led a $15 million round in fintech company, FinBox. The round also saw participation from Aditya Birla Ventures and Flipkart, along with existing investor Arali Ventures.