Fintech Startup SaveIN Raises $1 Million In Funding
SaveIn, a Gurugram-based credit-focused fintech startup, has raised seed funding of $1 million (around Rs 8.2 crore) from its existing investor Pioneer Fund.
As per the startup, the raised funds will be used for product development and scaling up its team and marketing footprint.
SaveIN | Healthcare Accessible And Affordable
Founded by Jitin Bhasin, Anurag Varma and Gaurav Luthra in 2020, SaveIN is a fintech platform that aims to revolutionize how Indians access quality healthcare with enhanced affordability through on-demand credit.
The fintech startup offers financing and credit options to patients at zero-cost equated monthly instalments (EMIs) across its network of healthcare providers.
Speaking about the development, Jitin Bhasin, Co-founder of SaveIN, said,
“We will continue to invest in people, product and distribution to realize our vision of facilitating hyper-local, quality healthcare with enhanced affordability for one and all.”
It has been working to build a network of healthcare providers to offer embedded finance and pay-later options at clinics across the country.
Since the launch of the flagship ‘Care now, Pay later’ product in January this year, the Gurugram-based startup claimed to have onboarded over 2,500 healthcare and wellness centres across 50 cities.
Commenting on the development, Tiffany Kuo, Senior venture partner at Pioneer Fund, said,
“While the problem SaveIN is solving has a universal appeal, we have closely observed their execution in India market and couldn’t be more excited to double down on our investment. They have run an extremely efficient business while scaling up rapidly since their launch earlier this year.”
The latest funding round takes SaveIn’s total seed fundraise to $8 million. In May 2022, SaveIN raised $1.1 million in an extended seed round led by Bayhouse Capital.
In April 2022, it raised $4 million (about Rs 30 crore) as part of its seed round from Silicon Valley’s famed accelerator Y Combinator and others, including 10X Group, Leonis VC, and Goodwater Capital.
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