HealthCRED, a B2B healthcare financing startup, has raised USD 1.2 million in seed funding.
In a press statement on Monday, the company informed that the funding round, led by Antler India, TRTL VC, DeVC, iSeedVC, and Angel List India, also saw participation from notable angel investors including Dr. Subho Ray (President, IAMAI), Nitin Gupta (CEO, Uni Cards), Amit Lakhotia (CEO, ParkPlus), and the founders of InsuranceDekho and SEA-based Docquity.
The statement from the company further said that the new capital will be strategically deployed to enhance customer relationships, expand operations into Southern and Western India, and develop cutting-edge B2B loan onboarding and management systems. HealthCRED plans to use the funds to create a comprehensive, digitised B2B healthcare lending framework.
Founded in 2022 by Shrey Jain and Arpit Jangir, HealthCRED is set to become India’s first healthcare-focused Small Finance Bank (SFB). The startup offers agile, extensive financing solutions tailored specifically for the healthcare sector. It collaborates with hospitals, specialized healthcare service providers, insurers, and pharmaceutical supply chain partners to deliver effective and intelligent financing options.
Shrey Jain, Co-Founder & CEO of HealthCRED, explained, “The rapid growth of health insurance post-COVID has increased working capital stress for hospitals and healthcare service providers. Delays in insurance receivables are a major issue. Our goal is to stabilise cash flow cycles through early financing of these receivables, ensuring better patient care and aligning with SDG Target 3.8 and Universal Healthcare Coverage (UHC).”
Nitin Sharma, Partner at Antler India, noted, “The healthcare sector faces a significant working capital gap, particularly affecting small to mid-sized hospitals with limited access to capital and claims management. As health insurance penetration increases, this gap is expected to widen. HealthCRED aims to bridge this gap by providing working capital finance against cashless insurance receivables, targeting a multi-billion dollar market. We are excited to support Shrey, Arpit, and the HealthCRED team in addressing these critical financing needs.”
