09 November 2022 | News
The Pre-Series- A funding comes at a pivotal time as the embedded finance sector is estimated to grow more than tenfold from approximately $22.5 billion in 2020 to around $230 billion by 2025
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Mumbai headquartered QubeHealth, a ‘Fin-Tech for Health-Tech’ early-stage startup, has raised an undisclosed Pre-Series-A round led by the US-based New Horizon Ventures, ThinKuvate (Singapore) and existing investor, Keiretsu Forum.
Axiomatic Ventures, Inflection Point Ventures, an existing investor, and other angel investors from India and the US, also participated in the round, that the company states giving them a runway of over twenty months.
The funds raised will be used to scale up the business and to invest further in building the ‘healthcare commerce’ technical infrastructure and expanding its healthcare marketplace.
QubeHealth is focused on solving the healthcare financing problem for healthcare expenditure that is not covered by health insurance. It offers No-Cost EMI Healthcare Finance to employees of corporates that subscribe to its service. By March 2023, it projects over 100,000 subscribers and a healthcare credit of Rs 1000 crore made available to these subscribers.
At present, QubeHealth has formed strategic partnerships with over 600 brands of health service providers and over 11,000 hospitals, clinics across the country.