Bengaluru-based insurance-tech startup Healspan has raised Rs 1.2 crore in a recently-concluded pre-seed funding round led by startup community-builder and accelerator PedalStart.

While this marks the first institutional fundraising round for Healspan since its inception in 2022, the startup has, through its strategic fundraising endeavors, raised total funding of Rs 1.7 crore till date. 

With the aid of its revolutionary claims filing and tracking software, Healspan has already helped 60+ hospitals pan-India in seamlessly managing the documentation, queries, processing, and other key aspects relating to cashless health insurance claims.

The company will be utilising the newly acquired pre-seed capital to bolster its technology, talent acquisition, and overall business operations and growth. Furthermore, the funds raised through this round shall play an instrumental role in growing and scaling Healspan’s clientele, and in boosting their subscriptions and revenue.

Owing to the ongoing support of PedalStart, over the last four months, Healspan has increased its revenue by 4x, and has been actively focusing on adding new revenue streams and paid subscribers onto the business.

The startup has already established its major presence across multiple metros and tier 1 cities like Bengaluru, Chennai, Hyderabad, Delhi-NCR, Mumbai, and others; and they are looking to expand to at least more locations across India, while serving at least 1000 hospitals by the end of 2025.