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.
ClaimBuddy’s Series A Funding Round Attracts Prominent Investors, Including CAC Capital
Gurugram-based ClaimBuddy, a pioneering health insurance claim assistance platform, has secured a significant milestone in its journey with a successful $5 million Series A funding round. Led by Bharat Innovation Fund (BIF), the investment round also saw participation from Japanese fund CAC Capital, alongside existing backers Chiratae Ventures and Rebright Partners. This substantial infusion of capital is poised to propel ClaimBuddy to new heights, fueling its mission to innovate, expand, and deliver impactful solutions in the healthcare sector.
Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy has swiftly emerged as a game-changer in the healthcare-financing landscape, aiming to streamline the often cumbersome health insurance claim process. With over 35,000 processed claims totaling Rs 500 crore and partnerships with more than 250 hospitals nationwide, ClaimBuddy has demonstrated its commitment to simplifying and enhancing the healthcare experience for patients and healthcare providers alike.
Expressing enthusiasm about the significant investment, Khet Singh Rajpurohit, CEO, and Co-founder of ClaimBuddy, highlighted the platform’s potential to introduce innovative financial tools and scale operations. This investment, he emphasized, positions ClaimBuddy for continued impactful contributions to the healthcare industry.
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ClaimBuddy’s core mission revolves around simplifying the claims process, offering seamless and hassle-free experiences for patients and hospitals. Ajit Patel, Co-founder of ClaimBuddy, reiterated the platform’s dedication to innovation and service expansion, aiming to improve access to quality care across India.
Ashwin Raguraman, Co-founder, and Partner at Bharat Innovation Fund commended ClaimBuddy’s efforts in tackling fundamental issues in healthcare financing. He acknowledged the platform’s prowess in addressing challenges faced by patients, particularly in the speed of discharge and claim settlement, underscoring its potential to positively impact patient experiences nationwide.
The successful closure of ClaimBuddy’s Series A funding not only reflects investor confidence in its innovative solutions but also underscores its potential for transformative impact in the healthcare industry. As ClaimBuddy continues its journey of innovation and expansion, it remains steadfast in its commitment to enhancing access to quality healthcare services for patients across India.
