Healthcare Fintech Care.fi Secures $8 Million Series A to Fuel Global Expansion and AI Development
What is the news?
Care.fi, a pioneering healthcare-focused fintech startup co-founded by Indian-origin entrepreneurs Sidak Singh and Vikrant Agrawal, has announced the successful closure of an $8 million Series A funding round. This hybrid round consists of $5 million in equity led by July Ventures with strong backing from Peak XV Partners, Accion Venture Lab, and Sadev Ventures and $3 million in debt financing from Trifecta and Vivriti. Since its inception in 2021, Care.fi has focused on the critical intersection of finance and healthcare, aiming to solve the “cash-flow” bottleneck that plagues hospitals and patients alike.
Why is it interesting?
The significance of this funding extends beyond the balance sheet. Care.fi is preparing to take its AI-powered healthcare operating system, RevNow, to international markets, specifically targeting the United States and the Middle East. By leveraging AI to automate documentation, coding, and insurance claims processing, the platform has already demonstrated the ability to reduce patient discharge times from several hours to under 20 minutes. This efficiency not only improves the patient experience but also optimizes revenue realization for healthcare providers, a challenge faced by medical institutions globally.
As the Global Indian Alpha narrative continues to evolve, founders like Singh and Agrawal are proving that India is no longer just a talent pool but a global hub for sophisticated, AI-driven intellectual capital. With a current workforce of 250 and plans to hire up to 600 more professionals, Care.fi is well-positioned to redefine the infrastructure of insurance-led healthcare on a global scale.
Read more: Care.fi raises $8 Mn in Series A round led by July Ventures