SaveIn Bags $4.3 Mn To Scale Up No-Cost EMI Offerings For Healthcare

SUMMARY

The funding round is led by SaveIn’s existing investors, including 10x Founders, Oliver Jung, and Leblon Capital

The company plans to deploy the freshly raised capital to scale its no-cost EMI solutions, bolster product development, and expand its footprint

SaveIn claims to have onboarded 5 Lakh customers since its inception

Healthcare-focussed fintech startup SaveIn has raised INR 37 Cr (around $4.3 Mn) in a fresh funding round led by its existing investors, including 10x Founders, Oliver Jung, and Leblon Capital.

Clean energy solutions provider Stem AI also joined the startup’s cap table by participating in the funding round.

The Delhi NCR-based startup said it will deploy the freshly raised capital to scale its no-cost EMI solutions, bolster product development and expand its footprint in the healthcare segment. A part of the fresh capital will also be used to scale up its recently launched B2B wellness platform welUp. 

Founded by Jitin Bhasin, Gaurav Luthra and Rahul Gupta in 2022, SaveIn operates a healthcare marketplace to connect patients with healthcare providers. It also provides credit offerings for medical treatments. Users can avail no-cost EMI options for healthcare treatments across segments like dental, dermatology, fertility, haircare, hearing, fitness, Ayurveda, and homeopathy.

Recently, SaveIn launched its B2B platform welUP which offers several wellness services, including on-demand doctor consultations, mental wellness programs, AI-assisted diet planning, diagnostic check-ups, and holistic therapies, to organisations for their employees. 

SaveIn claims to have onboarded 5 Lakh customers since its inception. 

Prior to this funding round, SaveIn bagged $8 Mn in its seed funding round. It counts Goodwater Capital, Y Combinator and Soma Capital among its investors. 

The last few years, especially post the pandemic, have seen the emergence of a number of fintech startups focussed on the healthcare sector.

As per Inc42, India is home to more than 790 fintech startups. Several startups among these, like HealthCRED, Care.fi, QubeHealth, among others, offer healthcare-focussed services to make treatments affordable for all. These startups have also been attracting a lot of investor interest.

In August last year, HealthCred raised $1.2 Mn in its seed funding round to enhance its customer relationships and expand operations to the southern and western parts of the country. 

Around the same time, Care.fi secured debt funding of $2.6 Mn (around INR 21 Cr) for expansion and talent acquisition. Later in September, the startup again raised INR 8 Cr in debt.

Another healthcare-focused fintech startup Icanheal raised INR 15 Cr (around $1.8 Mn) in its seed funding round led by IvyCap Ventures.

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