Care.fi Secures $2.6 Million in Debt Financing

Care.fi, a startup specializing in financial technology solutions for the healthcare sector, has secured $2.6 million in debt financing. This funding round consists of $2 million from Trifecta Capital and an additional $0.6 million from UC Inclusive Credit.

Fueling Expansion and Innovation

The influx of capital will be strategically directed towards scaling Care.fi’s operations. The company plans to utilize the funds to expand its service offerings, enhance its overall business model, and strengthen its team with new talent.

Bridging the Gap in Healthcare Finance

Founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi bridges the critical gap in healthcare financing. Their innovative fintech solutions offer crucial financial support to hospitals, doctors, and various allied suppliers within the healthcare industry. By addressing these financial needs, Care.fi facilitates smoother day-to-day operations and fosters accelerated growth for healthcare institutions.

Building a Strong Track Record

Headquartered in Gurugram, Care.fi has established a noteworthy presence within the healthcare finance landscape. The company boasts partnerships with over 50 hospitals and has positively impacted the lives of more than 2,000 patients. Furthermore, Care.fi has witnessed a significant surge in its financial reach, experiencing a fourfold increase in total disbursals, reaching a cumulative total of $48 million.

NBFC License and Industry Landscape

Notably, Care.fi has secured a coveted Non-Banking Financial Company (NBFC) license within a mere two years of operation. This achievement underscores the company’s commitment to long-term growth and its potential to disrupt the healthcare financing sector. While Care.fi navigates this space, it acknowledges established players like CarePay, SaveIn, and Bajaj Finserv Health as major competitors.