Care.fi Raises $2.6 Million in Debt Capital for Healthcare Financing Solutions

Care.fi, a healthcare-focused fintech start-up, has recently secured a significant amount of funding to further expand its operations and make a mark in the healthcare sector. The company raised $2 million in debt capital from Trifecta Capital and an additional $0.6 million from UC Inclusive Credit.

Co-founded by Sidak Singh and Vikrant Agarwal in 2021, Care.fi aims to provide smart financing solutions to doctors, allied suppliers, and hospitals, bridging the gap in funding in the healthcare sector. With a focus on growth and innovation, the company has seen remarkable success since its inception, with total disbursals reaching $48 million in the last financial year.

“We are thrilled to have received this funding, which will be instrumental in scaling our book size and achieving new milestones,” said Sidak Singh, co-founder of Care.fi. The company recently obtained its NBFC license from the Central Bank, allowing it to further expand its reach and impact in the healthcare industry.

Vikrant Agarwal, co-founder of Care.fi, highlighted the company’s commitment to working with hospitals and patients to optimize healthcare fintech solutions. With plans to increase its presence and invest in operational improvements for hospital management, Care.fi aims to become India’s first healthcare-focused small finance bank.

The funding round reflects the growing interest of global PE investors in the Indian healthcare sector, as highlighted in a report by Bain and Company. With increased spending on healthcare, a thriving pharmaceutical industry, and advancements in healthcare technology, India has emerged as a new center for PE deals in the healthcare space.

Overall, Care.fi’s success and vision for the future demonstrate the potential for innovation and growth in the healthcare fintech sector, paving the way for improved access to funding and financial solutions for healthcare providers and patients alike.