YC-backed Indian BNPL startup enters medical lending via acquisition

BharatX founders (from left) Eeshan Sharma, Mehul Nath Jindal, and Shyam Murugan / Photo credit: BharatX

Deal activity in India’s healthtech market, which could reach US$35 billion in size by 2030, is on the rise. Just this month, global private equity giant KKR acquired a medical devices company and took a minority stake in an AI healthcare firm.

India-based BharatX, a fintech startup backed by the likes of Y Combinator, has now followed suit. The company, which offers buy now, pay later (BNPL) as a white-label solution for brands, is venturing into the medical lending space after purchasing Zenifi, a healthcare-focused finance startup.

Padam Kataria, Zenifi’s co-founder and CEO, will join BharatX to head its healthcare loan arm. However, the financial details of the deal were not disclosed.

Established in 2023, Zenifi helps healthcare institutions provide installment payment options for patients, with partnerships across areas such as dental care, skincare, and in-vitro fertilization. According to the companies’ joint statement, Zenifi currently generates an annual rate of demand worth roughly US$144,000.

BharatX’s CEO Mehul Jindal said the deal would allow the company to go deeper into healthcare, “where currently no fintech or traditional players are able to disburse credit instantly.”

The companies have a longstanding partnership, and the acquisition will deepen Zenifi’s integration into BharatX’s system while boosting operations.

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