HealthCRED, India’s pioneering B2B healthcare financing startup, has successfully raised $1.2 million in a seed funding round. This investment was led by Antler India, TRTL VC, DeVC, iSeedVC, and Angel List India, with participation from prominent angel investors including Dr. Subho Ray (President, IAMAI), Nitin Gupta (CEO, Uni Cards), Amit Lakhotia (CEO, ParkPlus), and the founders of InsuranceDekho and SEA-based Docquity.
Strategic Use of Funds
The capital raised will be strategically allocated to enhance customer relationships and expand HealthCRED’s operations into Southern and Western India. Additionally, the funds will be used to recruit fresh talent and develop advanced B2B loan onboarding and loan management systems, establishing a fully digitized B2B healthcare lending framework.
About HealthCRED
Founded in 2022 by Shrey Jain and Arpit Jangir, HealthCRED is set to become India’s first healthcare-focused Small Finance Bank (SFB). The company specializes in providing fast, comprehensive, and flexible financing solutions tailored for the healthcare sector. HealthCRED collaborates with hospitals, specialized Healthcare Service Providers (HSPs in nephrology, oncology, and diagnostics), insurers, and pharmaceutical and consumable supply chain partners to offer intelligent and efficient financing solutions.
CEO’s Vision
Shrey Jain, Co-Founder & CEO of HealthCRED –“With the rapid penetration of health insurance in the post-COVID scenario, there has been an increased working capital management stress for Hospitals and HSPs. The key factor is the delay associated with the realisation of insurance receivables. Our aim is to work towards stabilising their cash flow cycles, through early financing of these delayed receivables. This would help further ensure quality delivery of patient care, thereby enabling improved alignment with SDG Target 3.8 and Universal Healthcare Coverage (UHC)”.
Investor Insights
Nitin Sharma, Partner at Antler India –“The healthcare ecosystem faces a significant working capital gap, particularly impacting small to mid-sized hospitals with limited capital access and claims management capabilities. This gap is expected to widen with increasing health insurance penetration and delayed insurer payments. Banks and NBFCs typically focus on large hospital infrastructural loans, leaving small hospitals underserved. HealthCRED aims to address this by offering working capital finance against cashless insurance receivables., targeting a multi-billion dollar gap. We are thrilled to back Shrey, Arpit, and the HealthCRED team to become a major healthcare lender, addressing various financing needs over time.”
Growth and Future Plans
HealthCRED is addressing a significant working capital gap within hospitals and the healthcare supply chain, targeting India’s rapidly expanding USD 300 Billion+ healthcare industry. With ambitious growth targets, the company plans to disburse over $1 billion in loans over the next five years through digital means, leveraging alternate data-driven underwriting.
This latest funding round positions HealthCRED to make a substantial impact on the healthcare sector by providing much-needed financial solutions that ensure the stability and growth of healthcare providers across India.
Also read – Bloq Quantum Secures INR 1.3 Crore in Pre-Seed Funding Round Led by Inflection Point Ventures
Join our WhatsApp News Channel for quick updates – FYI9 News WhatsApp Channel
