Mumbai-based FinTech Company, QubeHealth has raised an undisclosed amount in Pre-Series A round funding. Backed by US-based New Horizon Ventures, ThinKuvate (Singapore) and its existing investor Keiretsu Forum.
Axiomatic Ventures, Inflection Point Ventures and the existing investors participated in this funding round. Angel investors from India and US also participated in the round.
The Problem The Startup Solves
The Healthcare financing problem for healthcare expenditure is an issue that exists among people. QubeHealth is a Mumbai-based Fintech startup that aims to solve this issue. Its scheme includes No-Cost EMI Healthcare Finance for employees of corporates that subscribe to its service.
The funds bagged by QubeHealth in this Pre-Series A round will be used for business expansion. Apart from this, the company looks forward to building its ‘healthcare commerce’ technical infrastructure. The startup plans to utilize the funds to expand itself in the healthcare marketplace.
Chris George, Co-Founder, and CEO, QubeHealth said, “We are on a mission to change the way Indians will pay for our Healthcare, and providing no-cost healthcare credit is just the start. By 2025, we will deploy over a billion dollars in healthcare financing to employed Indians, putting the power back into their hands, when it comes to accessing healthcare for their family.“
Healthcare expenses are gradually rising in India. Health insurance options are getting too expensive. The company has tied up with over more than 11000 hospitals and clinics across the nation. Along with Hospitals, the startup furthermore has partnered with around 600 brands for providing better healthcare services.
Speaking on the funding, Chris George said, ” This funding sets up to deliver on the business metrics we have been chasing and beyond. The inbound interest we have seen from the marquee institutional investors since early this year has been overwhelming, and we are excited to close our series-A within the next six months.”
QubeHealth’s Future Projections
QubeHealth projects over 100,000 subscribers on its platform by March 2023 and 1000 Crore healthcare credit will be made available to the subscribers.
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