Fintech startup Healthfin gets backing from Axilor, Sprout Venture

Plus Worth Solutions Pvt. Ltd operated patient financing startup Healthfin has bagged an undisclosed amount in pre-Series A round from Axilor, Sprout Venture Partners and a few individual investors, the startup said in a statement.

This is the health platform’s first round of funding. The funds will be used for hiring and technological upgrades, it said.

Pune-based startup offers financial assistance to those patients who are under-insured and need funds for medical procedures or who have no insurance policies to supply funds at the time of need. It claims its services are available in six cities across 40 hospitals and speciality clinics.

Parvaiz Hussain and Sonia Basu had founded the startup in 2016. Hussain has worked with ICICI Bank and HSBC. Basu is a doctor who practised medicine for seven years and holds a degree in hospital administration.

“At a time of crisis, patients or their relatives find it challenging to arrange for funds immediately. Healthfin’s solution comes in at a time when a patient or their family is in dire need,” Hussain said in the statement.

Healthfin was part of the fifth accelerator batch of Axilor Ventures.

“We live in a country where seven out of 10 people are uninsured. In such a scenario, patient finance at an hour of emergency is a huge need for majority of the market,” said Asutosh Upadhyay, head of programmes at Axilor.