Hotline: 1800 102 2007
X
Search Business Opportunities
Apr, 12 2018

SRI Capital, others invest in healthcare fintech startup LetsMD

The round was also participated by the existing investors Waterbridge Ventures annd ThinKuvate, a Singapore-based venture capital firm.

LetsMD, a fintech startup in the healthcare space, has raised $1 million (Rs 6.5 crore) in a pre-Series A round of funding led by SRI Capital.

The round was also participated by the existing investors Waterbridge Ventures and ThinKuvate, a Singapore-based venture capital firm.

LetsMD said in a statement that it will use the fresh infusion to scale up its operations across the country.

Operated by Medbay India Pvt. Ltd, the startup runs an online marketplace which helps patients finance elective surgeries. Customers get the option of converting their surgery bills into equated monthly installments (EMIs).

LetsMD’s chief executive officer Nivesh Khandelwal said, “With private insurance penetration pegged at less than 10% and healthcare inflation growing at more than 15%, financing out-of-pocket expenses will be healthcare’s most important challenge in the next decade.”

The Delhi-based startup was founded by Khandelwal, Prakhar Gupta, and Tenzin Thargay.

Wharton graduate Khandelwal has entrepreneurial experience in the food & beverage and healthcare segments while Gupta, an alumnus of Purdue University, has had stints at startups in both Silicon Valley and India.

Thargay, a graduate of Indian Institute of Management-Bangalore, has more than a decade of experience across consumer internet and digital health platforms.

In 2016, LetsMD had raised Rs 3.4 crore (around $500,000) in angel funding at a valuation of $3-4 million in a round led by WaterBridge Ventures.

Other participants included Calcutta Angels Network (CAN), LetsVenture, People Group founder and CEO Anupam Mittal, and Currae Healthtech Fund.

LetsMD says it has partnered with more than 200 hospital and super specialty chains such as Fortis Healthcare and Max Healthcare in the Delhi-NCR region.

Comment
Related opportunities
  • Others Dealers And Distributors
    Oswaal Books is India’s fastest growing publishing house, started by..
    Locations looking for expansion Delhi
    Establishment year 1984
    Franchising Launch Date 2018
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater New delhi Delhi
  • Others Food Service
    About Us: Punjabi Chaap Corner well known as PCC founded in..
    Locations looking for expansion Delhi
    Establishment year 2012
    Franchising Launch Date 2012
    Investment size Rs. 5lac - 10lac
    Space required 200
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New delhi Delhi
  • Women's clothing
    About: Indian Wedding Dresses on Rent are available at Popin Designer..
    Locations looking for expansion Maharashtra
    Establishment year 1987
    Franchising Launch Date 2017
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
  • Quick Service Restaurants
    About Chai GaramWe serve our tea the way Indians like..
    Locations looking for expansion New Delhi
    Establishment year 2008
    Franchising Launch Date 2009
    Investment size Rs. 10lac - 20lac
    Space required 60 - 400 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater New Delhi New Delhi
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities