QubeHealth, a healthcare payments company, has secured additional funding from its existing investors – Inflection Point Ventures and Green Ivy Ventures.
The Mumbai-based healthcare payment startup has revolutionized healthcare access with frictionless payment solutions that it offers to over three lakh employees of some of the most prominent companies and organizations.
The fintech startup has received a top-up to its Pre-Series-A funding round and is on a mission to change the way Indians manage their family’s healthcare expenses.
According to Chris George, Founder & CEO, the new funds would provide a runway of up to two years, preparing the company strategically for an upcoming Series-A round. Marquee investors like Mitesh Shah and Puneet Kothapa have invested in the health payment startup.
QubeHealth offers a groundbreaking healthcare credit line and payment system available to employees of partnering companies. The service allows users to handle their medical bills that are not or partially covered by health insurance efficiently, enabling them to borrow from a pre-assigned credit limit and opt for a flexible, interest-free payback period of up to one year. This approach has positioned Qube as a pivotal player in the healthcare sector, aiming to make healthcare payments frictionless and user-friendly.
India faces over $55 billion in out-of-pocket healthcare expenses annually. QubeHealth uses its embedded finance and payment systems to mitigate the challenges of high medical costs by enabling millions of Indians to have better control over their healthcare bills, ensuring swift and easy payments for any health or medical expense.
The startup is looking to deploy ₹3,000 Crore in medical credit over the next three years. It has already activated ₹1,000 Crore of medical credit, benefiting over 200,000 employees of 270 corporates across India.”
