EarlySalary forays into healthcare BNPL segment
Premium- EarlySalary said it has brought onboard Parvaiz Hussain, the chief executive and co-founder of HealthFin, who will now lead the health category and strengthen its BNPL offering
MUMBAI : EarlySalary, a consumer lending platform for young professionals, on Monday said it has launched the “health category" to strengthen its buy now pay later (BNPL) portfolio.
EarlySalary said it has brought onboard Parvaiz Hussain, the chief executive and co-founder of HealthFin, who will now lead the health category and strengthen its BNPL offering. Hussain, it said, brings his experience of building a health-focused lending platform with partners of around 1,000 hospitals like Apollo, Fortis, Wockhardt and more to EarlySalary.
“The product will focus on three categories – emergency and operative medical care treatment, elective and planned treatment and cosmetic and aspirational treatments. Over the next 18 months, it aims to cover a few thousand hospitals, medical procedures, products and services available to its users on no-cost EMI as a part of its offerings," it said.
With EarlySalary Health, the company said it continues to further its mission to serve every need of young, aspirational and tech-savvy Indians. It has disbursed more than 2.3 million loans worth over ₹5,000 crore - logging in almost 1 lakh loans a month, it said.
Akshay Mehrotra, chief executive and co-founder, EarlySalary said, “Affordability is key in BNPL Category. With BNPL offering, it allows aspiring Indian’s access to services and products which were earlier out of access. EarlySalary Health will strengthen our BNPL offering and help us serve many more customers in a seamless manner."
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Hussain said that HealthFin was able to scale the category to nearly 50,000 customers but with EarlySalary’s deeper reach, larger demographic serving capabilities and stronger systems, he believes, a very large business in health as BNPL can be built.
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