In its first round of seed funding, HealthCRED, a trailblazing B2B healthcare financing firm, successfully raised USD 1.2 million. Antler India led the round, including participation from Angel List India, DeVC, iSeedVC, and TRTL VC. Amit Lakhotia, CEO of ParkPlus, Dr. Subho Ray, President of IAMAI, Nitin Gupta, CEO of Uni Cards, and the creators of Docquity, a SEA startup, were among the prominent angel investors drawn to the investment round.
The business declared that it would strategically use the recently obtained funds to improve client relations, grow into Western and Southern India, and create cutting-edge B2B loan onboarding and administration technologies. The principal aim of HealthCRED is to provide an all-encompassing, digitalized B2B healthcare financing structure, catering to the increasing demand for specialized financial solutions within the healthcare industry.
HealthCRED, which was founded in 2022 by Shrey Jain and Arpit Jangir, aims to become the first Small Finance Bank (SFB) in India with a focus on healthcare. The firm works with hospitals, specialist healthcare providers, insurers, and pharmaceutical supply chain partners to offer innovative and efficient finance solutions specifically designed for the healthcare sector.
The significance of HealthCRED’s purpose was underscored by Shrey Jain, Co-Founder & CEO, who said, “Working capital stress for hospitals and healthcare service providers has intensified with the rapid expansion of health insurance post-COVID. One of the main problems is insurance receivables delays. By funding these receivables early, we hope to stabilize cash flow cycles, improve patient care, and achieve SDG Target 3.8 and Universal Healthcare Coverage (UHC).
A key working capital gap exists in the healthcare industry, which Nitin Sharma, a partner at Antler India, emphasized, adding, “This gap primarily affects small to mid-sized hospitals that have limited access to capital and claims management.” This disparity is predicted to grow as more people obtain health insurance coverage. By targeting a multi-billion dollar industry, HealthCRED seeks to close this gap by offering working capital finance secured by cashless insurance receivables. We are thrilled to assist Arpit, Shrey, and the HealthCRED group in meeting these important funding requirements.
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