Healthfin, a digital lending startup has raised $500,000 in a pre-series A round from Axilor Ventures along with the participation of Sprout Venture Partner and Manish Khera, former CEO of Airtel Payments Bank.
With the infusion of new funds, the startup intends to scale-up operations, seek more collaboration with hospitals and strengthen its technology platform.
“We are targeting nine cities from around six presently within the next six months and also (plan to) treble the number of hospital partners from around 100 now,” said co-founder, Healthfin, Parvaiz Hussain.
The start also has tie-ups with nine lenders including ICICI Bank, Tata Capital, Fullerton, and Loan Tap.
“We have a 90 day cashless interest-free loan product and beyond 90 days we charge 1.5 per cent interest per month which can be extended for five years,” added co-founder.
The startup currently takes a day to process a loan, but with an improved tech platform, it may be shorten to five minutes.