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.
Gurugram-based ClaimBuddy Raises Significant Capital to Revolutionize Health Insurance Claims
Gurugram-based ClaimBuddy Raises Significant Capital to Revolutionize Health Insurance Claims ClaimBuddy, a Gurugram-based platform revolutionizing health insurance claim assistance, has secured a significant $5 million in Series A funding, led by Bharat Innovation Fund (BIF). This funding round, which also saw participation from Japanese fund CAC Capital and existing investors Chiratae Ventures and Rebright Partners, marks a pivotal moment in ClaimBuddy’s journey towards transforming the healthcare-financing landscape.
Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to address the complexities and challenges encountered by patients and hospitals in the health insurance claim process. With over 35,000 processed claims totaling more than Rs 500 crore, and partnerships with over 250 hospitals across India, ClaimBuddy has already made significant strides in streamlining healthcare financing.
The $5 million investment will fuel ClaimBuddy’s mission to enhance its technological infrastructure, expand its team and sales network, and introduce new product lines tailored to meet the evolving needs of its growing network of hospitals and patients. Khet Singh Rajpurohit, CEO and Co-founder of ClaimBuddy, expressed excitement about the investment, highlighting the platform’s commitment to driving meaningful impact in the healthcare industry.
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ClaimBuddy simplifies 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 dedication to innovation and service expansion, aiming to improve access to quality care for patients across India.
Ashwin Raguraman, Co-founder and Partner at Bharat Innovation Fund, commended ClaimBuddy’s efforts in addressing fundamental issues in healthcare financing. He praised ClaimBuddy for its understanding of the challenges faced by patients and hospitals, expressing confidence in its ability to positively impact patient experiences nationwide.
The successful closure of ClaimBuddy’s Series A funding not only validates the platform’s potential for transformative change in the healthcare industry but also underscores investor confidence in its innovative solutions and strategic vision. As ClaimBuddy continues to innovate and expand its presence in the healthcare ecosystem, it remains committed to enhancing access to quality care for patients across India.
