Healthcare payments firm QubeHealth raised Pre-Series A funding at Rs 200 Cr valuation
The pre-Series-A round of funding for the healthcare payments company QubeHealth has been topped off thanks to investments from Inflection Point Ventures, Green Ivy Ventures, and other family investment offices. Along with other current backers of the business, Keiretsu Forum took part in the round.
The new funds came at a valuation of Rs 200 crore, though the company did not disclose the exact amount, according to a spokesperson for the organization. In November of last year, the first pre-Series A round installment was made.
Employees of businesses that sign up for QubeHealth’s credit product are given access to a payment system and a healthcare credit line. It enables users to draw from a predetermined credit limit and borrow and pay as necessary. The employee is not required to pay a subscription fee; instead, the employer must do so on the employee’s behalf.
A medical credit worth Rs 1,000 crore, according to the startup, has already been activated for over 2 lakh employees of 270 Indian companies. The business anticipates investing Rs 3,000 crore in medical credit over the following three years, enabling quick payments via its mobile app to any hospital or clinic in the nation.
Over 270 of India’s largest employers, over 600 different health service provider brands, and over 11,000 hospitals, clinics, and medical professionals are all partners of Mumbai-based QubeHealth. By FY24, it hopes to have disbursed 300 crore rupees worth of medical loans.
