Summary
Gurugram-based health insurance claim assistance platform, ClaimBuddy, has secured a substantial $5 million in Series A funding. Led by Bharat Innovation Fund (BIF), with participation from Japanese fund CAC Capital, alongside existing investors Chiratae Ventures and Rebright Partners, this investment marks a significant milestone for ClaimBuddy. Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to streamline the healthcare financing landscape by simplifying the health insurance claim process for patients and hospitals. With partnerships with over 250 hospitals and claims processed for over 35,000 patients, ClaimBuddy plans to utilize the funding to enhance its technology, expand its team and sales network, and introduce new product lines. The successful closure of the Series A funding underscores investor confidence in ClaimBuddy’s innovative solutions and strategic vision, paving the way for further expansion and impact in the healthcare industry.
ClaimBuddy Raises $5 Million in Series A Funding to Revolutionize Health Insurance Claims
Gurugram-based health insurance claim assistance platform, ClaimBuddy, has secured a significant milestone in its journey with a $5 million investment in its Series A funding round. Led by Bharat Innovation Fund (BIF), this funding round also saw participation from Japanese fund CAC Capital, along with existing investors Chiratae Ventures and Rebright Partners.
Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to simplify the healthcare-financing landscape by addressing challenges encountered by patients and hospitals during the health insurance claim process. With a focus on streamlining operations and enhancing technological capabilities, ClaimBuddy plans to expand its team, sales network, and introduce new product lines to better serve its growing network of hospitals.
Since its inception, ClaimBuddy has processed claims for over 35,000 patients, totaling more than Rs 500 crore, and has established partnerships with over 250 hospitals across India. This significant investment is expected to further fuel ClaimBuddy’s mission to innovate and improve access to quality healthcare services.
Khet Singh Rajpurohit, CEO, and Co-founder of ClaimBuddy expressed excitement about the investment, highlighting its potential to drive meaningful impact in the healthcare industry. He stated, “With this significant investment, we are well-positioned to introduce innovative financial tools and scale our operations to continue driving meaningful impact in the healthcare industry.”
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The platform aims to simplify the claims process by offering cashless and hassle-free experiences for patients and hospitals alike. Ajit Patel, Co-founder of ClaimBuddy, emphasized the platform’s commitment to innovation and service expansion. He said, “This investment is a testament to the value we bring to the healthcare ecosystem and will fuel our efforts to further innovate and expand our services, ultimately improving access to quality care for patients across India.”
Ashwin Raguraman, Co-founder, and Partner at Bharat Innovation Fund praised ClaimBuddy’s efforts in addressing fundamental issues in healthcare financing. He noted, “Khet and Ajit are helping solve this problem and having acquired some of the best-known hospital chains in India as customers, are poised to bring a very positive impact in the patient experiences across the country.”
The successful closure of ClaimBuddy’s Series A funding not only underscores the platform’s potential for transformative impact in the healthcare industry but also signifies the confidence of investors in its innovative solutions and strategic vision. As ClaimBuddy continues to innovate and expand its footprint in the healthcare ecosystem, it aims to further enhance access to quality care for patients across India.
