Medical health insurance declare help platform ClaimBuddy raises $5 million

Medical health insurance declare help platform ClaimBuddy has raised a $5 million funding, marking the profitable closure of its Sequence A funding. The funding spherical was led by Bharat Innovation Fund (BIF), and noticed participation from Japanese fund CAC Capital, together with present buyers Chiratae Ventures and Rebright Companions.

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The fund will assist ClaimBuddy advance its know-how, increase its group and gross sales community, and add new product strains for its rising community of Hospitals.

Based in 2020 by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy goals to discover a seamless resolution within the healthcare financing area by addressing the challenges confronted by sufferers and hospitals within the medical health insurance declare course of.

Since its inception, ClaimBuddy has claimed to course of claims for over 35,000 sufferers, valued at over 500+ crore, and has established collaborations with 250+ associate hospitals throughout India.

“Our imaginative and prescient for ClaimBuddy has all the time been to alleviate the burden on each sufferers and hospitals in navigating complexities of healthcare bills & medical health insurance claims. With this important funding, we’re well-positioned to introduce modern monetary instruments & scale our operations and proceed driving significant affect within the healthcare business,” stated Khet Singh Rajpurohit, CEO at ClaimBuddy.

The corporate seems to simplify the claims course of by providing cashless and hassle-free experiences for all events concerned.

“Sufferers nonetheless face very fundamental issues of their pace of discharge and settlement of a medical health insurance declare made by means of the reimbursement mode. With a robust understanding of those challenges on this area, Khet and Ajit are serving to remedy this drawback and having acquired a number of the best-known hospital chains in India as prospects, are poised to carry a really constructive affect within the affected person experiences throughout the nation. We stay up for present a tailwind to their efforts,” stated Ashwin Raguraman, Co-founder and Companion at Bharat Innovation Fund.