BharatX, a BNPL fintech startup backed by Y Combinator, has acquired Zenifi, a healthcare finance startup offering low-cost and zero-cost EMI options.
As a result of the agreement, Padam Kataria, co-founder and CEO of Zenifi, will become the head of business for healthcare at BharatX.
In order to increase conversion rates for healthcare providers, Padam Kataria, Harshit Shrivastava, and Rajendra Kulkarni founded Zenifi in 2023. Zenifi offers low-cost and free EMIs. It has partnerships with numerous hospitals and aggregators, resulting in an annual demand rate of more than Rs. 1.2 crore.
The Zenifi team can now take advantage of the pre-existing lending platform and realize improved economics as a result of joining BharatX. Additionally, this acquisition will give BharatX access to the healthcare industry.
BharatX will join the medical lending market as a result of the acquisition.
For more than 125 brands, BharatX offers financing options in a white-label fashion. It says it has raised over $4.7 million to date and grown 33X in the last five quarters. Additionally, the startup states that over 200,000 users have received credit thus far.
Along with its current relationships with companies like Flo mattress, Snitch, and Mokobara, BharatX recently announced partnerships with payment gateway Cashfree.
