Healthcare-focused fintech startup SaveIn has raised 37 crore rupee (US$4.3 million) in a funding round led by existing investors, including 10x Founders, Oliver Jung, and Leblon Capital.

Stem AI, a clean energy solutions provider, also participated.

The India-based startup plans to use the funds to scale its no-cost EMI solutions, improve product development, and expand in the healthcare sector. A portion will also support its B2B wellness platform, welUP.

Founded in 2022 by Jitin Bhasin, Gaurav Luthra, and Rahul Gupta, SaveIn connects patients with healthcare providers and offers credit options for medical treatments, including no-cost EMI plans.

Since its inception, the company has onboarded 500,000 customers.

SaveIn’s welUP platform provides wellness services like doctor consultations, mental health programs, AI-driven diet planning, diagnostic tests, and holistic therapies for corporate employees.

🔗 Source: Inc42

🧠 Food for thought

1️⃣ Post-pandemic healthcare fintech boom addresses critical affordability gaps

SaveIn’s new funding reflects a broader post-pandemic trend where healthcare-focused fintech solutions are gaining significant traction by addressing a fundamental market challenge: healthcare affordability.

The Indian healthcare market is projected to reach $372 billion by 2022, driven by rising income levels and health awareness, yet accessibility remains a critical issue with India’s doctor-to-patient ratio at 1:1596, significantly below the WHO standard of 1:1400 1.

This gap has created substantial opportunities for startups that bridge financial access barriers, with COVID-19 acting as a catalyst. Healthcare startups raised $2.2 billion in 2021, representing a 3.3x increase from pre-pandemic levels 2.

SaveIn’s no-cost EMI model specifically targets out-of-pocket healthcare expenses, which constitute approximately 60% of healthcare spending in India, a particularly acute problem for middle and lower-income households.

The fintech sector overall in India has demonstrated remarkable resilience and growth, achieving an 87% acceptance rate post-COVID compared to the global average of 64%, signaling a profound shift in consumer behavior toward digital financial solutions 3.

2️⃣ Healthcare innovation market poised for explosive growth through 2028

The broader context of SaveIn’s fundraise reveals its strategic positioning within India’s rapidly expanding healthcare innovation ecosystem, which is projected to reach $60 billion by FY 2028, with healthtech specifically accounting for 25% of this market 4.