SaveIN, a healthcare buy-now-pay-later platform, has raised $4 million (Rs 30 crore) in seed capital from Silicon Valley and European investors.
According to the press release, the Gurgaon-based start-up has received money from Y-Combinator, 10X Group, Leonis VC, Goodwater Capital, Nordstar, Rebel Fund, Pioneer Fund, Soma Capital, and SCM Advisors.
Oliver Jung, Grant Park Ventures, Leblon Capital, Almagro GmbH, MyAsiaVC, Kube VC, Spenmo Founder Mohandass Kalaichelvan, and serial healthcare entrepreneur VimalKavuru were among those that participated in the round.
“We are humbled by the huge response and support of world-class investors, who are backing our mission to reinvent private healthcare in India,” said Jitin Bhasin, SaveIN’s founder, and CEO. We plan to use these funds to accelerate product development, boost in-house teams in engineering, product, data sciences, and sales, and expand our nationwide network of healthcare providers.”
The fintech startup is forming a network of healthcare providers to offer embedded finance and pay later options at clinics around the country. Over 500 healthcare and wellness facilities have joined the startup in five Indian cities.
“Access, transparency, quality, and affordability are all issues with India’s private healthcare.” We at SaveIN want to build India’s most comprehensive private healthcare ecosystem by tackling these issues with technology-first solutions, allowing millions of Indians to get timely and high-quality care at a lower cost. We hope to enable healthcare providers across India to serve up to 50% more patients through low EMIs as a result of this approach,” Bhasin added.
Outpatient and elective healthcare services such as dentistry, eye care, veterinary, diagnostics, dermatology, haircare, fertility, wellness, and alternative therapies, according to the firm. Across its network, the company claims to offer a 60-second, digital checkout funding option for patients with low or no EMIs.