ClaimBuddy, a leading health insurance claim assistance platform, has successfully concluded its Series A funding round with a notable investment of $5 million.
The round was spearheaded by Bharat Innovation Fund (BIF), with participation from Japanese fund CAC Capital, as well as existing investors Chiratae Ventures and Rebright Partners.
The infusion of capital is earmarked to propel technological advancements, augment the workforce and sales network, and introduce new product lines to cater to the expanding network of hospitals.
Empowering Healthcare Financing with Innovation
CEO and Co-founder of ClaimBuddy, Khet Singh Rajpurohit, expressed optimism about the company’s trajectory, stating, “With this significant investment,
we are well-positioned to introduce innovative financial tools and scale our operations, continuing to drive meaningful impact in the healthcare industry.”
Addressing Challenges in Health Insurance Claims
Established in 2020 by Rajpurohit and Ajit Patel, ClaimBuddy endeavors to streamline the healthcare-financing landscape
by tackling the hurdles encountered by patients and hospitals during the health insurance claim process. Over the years, the company has processed claims for more than 35,000 patients, totaling over Rs 500 crore. Moreover, it has forged partnerships with over 250 hospitals across India.
Endorsing Innovation in Healthcare
Ashwin Raguraman, Co-founder and Partner at Bharat Innovation Fund, commended ClaimBuddy’s commitment to addressing fundamental issues in healthcare financing, stating, “Patients still face very basic problems
in their speed of discharge and settlement of a health insurance claim made through the reimbursement mode. With a strong understanding of these challenges in this space,
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. We look forward to providing a tailwind to their efforts.”
Simplifying Claims Processing for Enhanced Patient Experience
ClaimBuddy distinguishes itself by offering seamless and hassle-free experiences for all stakeholders involved in the claims process. Ajit Patel, Co-founder of ClaimBuddy, emphasized the significance of the investment, stating,
“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.”
In conclusion,
ClaimBuddy’s recent funding milestone underscores its commitment to revolutionizing healthcare financing, with a focus on enhancing patient experiences and streamlining the claims process.
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