Y Combinator-Backed BharatX Acquires Zenifi to Enter Healthcare Lending Market

Preeti Bali / 8:07 am / May 30, 2024

BharatX, a buy now, pay later (BNPL) fintech startup backed by Y Combinator, has announced the acquisition of Zenifi, a healthcare finance company. This strategic move marks BharatX’s entry into the medical lending segment.

Zenifi Expertise Bolsters BharatX’s Healthcare Push

As part of the acquisition agreement, Padam Kataria, Zenifi’s co-founder and CEO, will join BharatX as the Head of Business for the healthcare vertical. Zenifi, founded in 2023 by Kataria, Harshit Shrivastava, and Rajendra Kulkarni, specializes in offering zero-cost and low-cost EMIs to healthcare providers. This has demonstrably improved conversion rates for their partners.

By leveraging BharatX’s existing lending platform, the Zenifi team can streamline their operations and achieve greater financial efficiency. This acquisition empowers BharatX to tap into the burgeoning healthcare financing sector in India.

BharatX: A Growth Trajectory and Strategic Partnerships

Prior to the acquisition, BharatX established itself by enabling financing options for over 125 brands in a white-labeled manner. The company boasts a remarkable 33x growth over the past five quarters and has secured funding exceeding $4.7 million to date. They have also facilitated credit disbursement to more than 200,000 users.

BharatX recently announced a new partnership with the payment gateway Cashfree, further expanding their reach. This builds upon existing collaborations with brands like Flo Mattress, Snitch, and Mokobara. The acquisition of Zenifi signifies BharatX’s continued commitment to innovation and strategic expansion within the Indian fintech landscape.


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