The funding, led by Bharat Innovation Fund (BIF) and joined by Japanese fund CAC Capital, along with existing investors Chiratae Ventures and Rebright Partners, marks a milestone for the company.
The infusion of capital will fuel ClaimBuddy’s expansion plans, empowering the platform to enhance its technology, grow its team and sales network, and introduce new product lines tailored to its expanding network of hospitals.
Founded in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy is dedicated to streamlining healthcare financing by addressing the challenges encountered by patients and hospitals in the health insurance claim process.
The company also aims to simplify the claims process by offering cashless and user-friendly experiences for all parties involved.
ClaimBuddy has processed claims for over 35,000 patients, totaling a value exceeding 500 crores. Additionally, the platform has established collaborations with more than 250 partner hospitals across India, positioning itself as a vital player in the health insurance claim assistance sector.
“Our vision for ClaimBuddy has always been to alleviate the burden on both patients and hospitals in navigating complexities of healthcare expenses & health insurance claims. With this significant investment, we are well-positioned to introduce innovative financial tools & scale our operations and continue driving meaningful impact in the healthcare industry,” said Khet Singh Rajpurohit, CEO at ClaimBuddy.
“Patients still face very basic problems in their speed of discharge and settlement of a health insurance claim made through the reimbursement mode. With a strong understanding of these challenges in this space, Khet and Ajit are helping solve this problem and having acquired some of the best-known hospital chains in India as customers, are poised to bring a very positive impact in the patient experiences across the country. We look forward to provide a tailwind to their efforts,” said Ashwin Raguraman, Co-founder and Partner at Bharat Innovation Fund.
