AffordPlan, a healthcare-focused fintech company, said it had raised $10 million in a series B funding led by new investor Lok Capital. Another new investor Omidyar Network and existing investors Prime Venture Partners and Kalaari Capital also participated in the financing round.
The Delhi-based firm said it had partnered with more than 300 hospitals in the country to make non-emergency procedures affordable and already reached out to more than 1,00,000 patients. The company said the new funds will be used to meet the growing demand for its unique savings-based finance platform and to advance the countrywide adoption of AffordPlan in various hospitals. The firm is also looking to hire more than 200 employees across India by the end of 2018.
“We are well on our way to create the largest distribution network for financial services in healthcare in India,” said Tejbir Singh, CEO and co-founder, AffordPlan, in a statement.
In the next 12-18 months, the start-up said it will focus on building a full stack of financial services products for healthcare and deepening its corresponding distribution and supply chain capabilities.
