Introduction to QubeHealth’s New Funding
Mumbai-based healthcare payments startup QubeHealth recently received new funding from Unicorn India Ventures and CanBank Venture Capital Fund. This investment comes as QubeHealth prepares for its upcoming Series A round and aims to further develop its technology and add features to expand its services.
The QubeHealth Pay App: Simplifying Healthcare Payments
The QubeHealth Pay app is designed to help people in India manage healthcare costs more easily. With this app, users can quickly pay for medical services like hospital visits and medication purchases using multiple payment options. The app offers instant cash-back rewards and provides access to financing for medical bills that aren’t covered by health insurance.
QubeHealth’s Corporate Partnerships
QubeHealth works primarily with large companies, such as Flipkart and Tata Teleservices, offering its services as a healthcare benefit for employees. The app allows employees to access healthcare payment solutions for themselves and their families, helping them handle expenses that insurance may not cover.
Investment Plans for Growth and New Features
According to a statement from a QubeHealth spokesperson, this latest funding will be used to enhance the company’s infrastructure and introduce new services, including integrated insurance solutions, a genAI-powered recommendation platform, and a healthcare marketplace. The company projects that by the end of the fiscal year, they will facilitate over Rs 100 crore in healthcare payments.
Expansion Goals and Future Series A Funding
Chris George, Co-Founder and CEO of QubeHealth, noted that the company is seeing significant usage from corporate clients, with more employees and their families using the app regularly for healthcare expenses. He shared that QubeHealth plans to raise an additional $9 million in the upcoming Series A round, targeting a valuation of Rs 270 crore.
Unicorn India Ventures’ Support for QubeHealth
Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, commented that QubeHealth has effectively brought together the benefits of fintech and healthcare payments, providing much-needed support for people dealing with high medical bills. He expressed optimism about QubeHealth’s growth potential, noting that he expects the company’s strategy to drive it closer to success in the coming months.