Y -Combinator-backed SaveIN raises $4 mn in seed funding

Y-Combinator backed fintech start-up which is focussed on healthcare, SaveIN has raised $4 million (Rs 30 crore) in a seed funding round.

Part of Y-Combinator’s winter 22 batch, the Gurgaon based start-up has secured funding from top institutional investors, including Y-Combinator, 10X Group, Leonis VC, Goodwater Capital, Nordstar, Rebel Fund, Pioneer Fund, Soma Capital and SCM Advisors.

The round also saw participation from Oliver Jung, Europe’s top angel investor, Grant Park Ventures, Leblon Capital, Almagro GmbH, MyAsiaVC, Kube VC, Spenmo Founder Mohandass Kalaichelvan and serial healthcare entrepreneur Vimal Kavuru, among others.

“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 & CEO, SaveIN.

The fintech start-up is creating a network of healthcare providers with an aim to offer embedded finance and pay later options at clinics across the country. Within three months of the launch of its flagship 'Care Now, Pay Later' product, the start-up claims to have onboarded over 500 healthcare and wellness clinics across 5 cities of India.

“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”, Bhasin added.

SaveIN said it is focusing on outpatient and elective healthcare procedures like dental, eye care, veterinary, diagnostics, dermatology, hair care, fertility, wellness and alternate therapies, among others. The company offers a 60 second, digital checkout finance option for patients at minimal or zero cost EMIs, across its network of high-quality healthcare providers, thereby, simplifying private healthcare.

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