In a strategic move to strengthen its role in India’s massive health insurance initiative, Care.fi, a healthcare-focused fintech startup based in Gurugram, has secured Rs 6 crore in
In a strategic move to strengthen its role in India’s massive health insurance initiative, Care.fi, a healthcare-focused fintech startup based in Gurugram, has secured Rs 6 crore in debt funding from RevX. The fresh capital will be used to improve its financial technology platform that supports hospitals participating in the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY), the world’s largest government-backed health assurance program.
This funding round highlights the growing synergy between finance and healthcare in India, particularly as the Ayushman Bharat scheme continues to scale up across the nation.
Care.fi is a financial technology platform designed specifically for the healthcare ecosystem. Founded with the goal of simplifying finance for hospitals and medical providers, Care.fi provides short-term working capital, loan products, and seamless payment solutions to healthcare institutions.
The startup helps hospitals and suppliers get faster access to funds, enabling them to manage cash flows better and ensure smooth operations. Whether it’s delayed government reimbursements or high-volume patient care costs, Care.fi steps in to bridge the financial gap.
Care.fi’s latest debt raise from RevX is a significant development. The funds will be strategically deployed to:
Hospitals under AB-PMJAY often face delays in claim settlements, which affect their operations and patient care. Care.fi plans to enhance its technology so that participating hospitals can receive faster, more efficient financing.
A key part of the funding will go toward upgrading Care.fi’s platform. This includes better analytics, faster claim processing tools, and integration with hospital systems to simplify financial workflows.
Care.fi wants to bring more hospitals under its umbrella. With over 29,000 hospitals already empanelled under the Ayushman Bharat scheme and over 550 million beneficiaries, there’s a massive market opportunity. This funding allows Care.fi to extend its services across India.
The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana is India’s flagship public healthcare program, offering health coverage of up to Rs 5 lakh per family per year. As of mid-2024, it covers over 550 million people across the country.
The program has become critical in offering accessible healthcare to low-income families, with thousands of public and private hospitals joining the initiative. However, due to its scale, timely claim processing and financing remain a challenge — one that fintech startups like Care.fi are stepping up to solve.
Care.fi is no stranger to growth. The startup has already raised funds from several notable debt partners, including:
With these investments, Care.fi has seen rapid traction in the healthcare finance sector. In the last financial year alone, it disbursed over Rs 400 crore in loans — a fourfold increase from the previous year. The company also secured an NBFC (Non-Banking Financial Company) license within just two years of operation, strengthening its credentials in the lending space.
Care.fi’s platform isn’t just for hospitals. It also extends services to individual doctors, diagnostic centers, and suppliers. The idea is to build a full-stack financial ecosystem where every participant in the healthcare chain can benefit from faster access to funds.
As of now, Care.fi has partnered with more than 50 hospitals and has supported thousands of patients by easing the burden of delayed payments and out-of-pocket expenses.
Looking ahead, Care.fi plans to:
The ultimate goal is to become the go-to financial platform for all institutions under Ayushman Bharat, reducing delays, increasing efficiency, and ensuring that healthcare providers can focus on what matters most — treating patients.
Care.fi’s Rs 6 crore funding is more than just a financial milestone — it reflects the growing importance of tech-driven finance in transforming Indian healthcare. As Ayushman Bharat continues to expand, the demand for reliable and responsive financial partners will rise, and startups like Care.fi are poised to lead that change.
This development shows how the intersection of fintech and public healthcare can unlock better outcomes not just for hospitals, but for millions of patients across India.
