[Funding alert] SaveIN raises $4 mn seed funding

SaveIN, a Buy now Pay Later (BNPL) platform for healthcare has raised $4 million in its seed funding round from leading investors like Y-Combinator, 10X Group, Leonis VC, Goodwater Capital, Soma Capital, Nordstar, Rebel Fund, Pioneer Fund, and SCM Advisors.

Other investors include Oliver Jung, Europe’s top angel investor, Grant Park Ventures, Leblon Capital, Almagro GmbH, MyAsiaVC, Kube VC, Mohandass Kalaichelvan (Founder of Spenmo), and serial healthcare entrepreneur VimalKavuru, among others, participated in this round.

The startup plans to use the funds to develop a nationwide network of healthcare practices to accelerate product development, and strengthen in-house teams in engineering, product, data science, and sales.

Part of Y-Combinator’s Winter 22 batch, the Gurgaon-based SaveIN was founded in 2020 by Jitin Bhasin, Anurag Varma, and Gaurav Luthra, It is creating a network of healthcare providers aimed at embedded finance and pay aftermarket options in clinics across the country.

“We are humbled by the overwhelming response and support of world class investors, who are backing our vision to revolutionise private healthcare in India. We aim to utilise these funds for accelerating product development, strengthening in-house teams in engineering, product, data sciences, and sales while growing our network of healthcare practices across the country”, said, Jitin Bhasin, founder or CEO of SaveIN.

“Private healthcare in India is riddled with challenges of access, transparency, quality and affordability. We at SaveIN, aim to create India’s largest integrated private healthcare ecosystem, addressing these challenges through technology first solutions, thereby enabling millions of Indians to avail timely and quality care through enhanced affordability. In the process we aim to make healthcare providers across India serve up to 50 per cent more patients through affordable EMIs”, he added.

Three months after the startup launched its flagship product, Care Now, Pay Later, it has entered over 500 healthcare and wellness clinics across five cities in India.

The Company said it is focusing on outpatient and alternative health procedures such as dentistry, eye care, veterinary medicine, diagnostics, dermatology, hair care, fertility, wellness and alternative therapies.

The company also offers 60 Seconds, a digital checkout finance option for patients at minimum or zero cost EMI across its network of high-quality healthcare providers, thereby simplifying personalized healthcare.

About SaveIN

SaveIN is a financial technology platform that aims to revolutionize how Indians access credit, banking, and personal finance products.

They aim to build novel financial products and experiences, in a 100% digital, paperless, and mobile-first ecosystem.

At the core of building this truly exceptional financial experience lies their humble, albeit fierce intent to solve problems faced by their customers by combining the best of technology and traditional finance principles.

SaveIN offers the following unique products to its users Care now, Pay later – India’s simplest health care finance solution.