Care.fi Raises $8 Million to Revolutionize Healthcare Fintech in India

Care.fi Raises $8M to Revolutionize Hospital Revenue Operations with AI

AI-Driven Fintech Startup Secures Major Series A Funding

Healthcare-focused fintech startup Care.fi has successfully raised $8 million (approximately Rs 72.46 crore) in a Series A funding round, combining equity and debt, as it prepares to scale its AI-driven revenue cycle platform for hospitals in India and overseas.

The round includes $5 million in equity, led by July Ventures with participation from Peak XV Partners, Accion Venture Lab, and Sadev Ventures. The remaining $3 million was raised as debt from Trifecta Capital and Vivriti, marking a significant milestone in Care.fi’s growth trajectory.

Prior to this, Care.fi had raised around $5 million in multiple funding tranches, including debt from Trifecta Capital and UC Inclusive Credit, as well as equity from RevX to support government initiatives like the Ayushman Bharat scheme.

How Care.fi is Transforming Hospital Revenue Operations

Founded in 2021 by Vikrant Agrawal and Sidak Singh, Care.fi operates an AI-powered healthcare operating system that manages hospital documentation, coding, claims processing, and collections. The platform also runs an NBFC arm providing working capital loans, supply chain financing, receivables financing, and invoice discounting through partnerships with Hindon Mercantile and Prateek Securities.

One of the standout features of Care.fi’s platform is upfront claim disbursement within 10 minutes, effectively addressing delays in revenue realization for hospitals participating in government and insurance-backed schemes such as Ayushman Bharat and ESI.

“This capital allows us to go deeper on our core mission: making healthcare revenue operations seamless and invisible for hospitals,” said Vikrant Agrawal, co-founder of Care.fi. “Doctors and care teams should not be spending time navigating paperwork, approvals, or delayed payments. We are building an AI-first healthcare operating system that takes care of revenue end-to-end.”

Strategic Expansion Plans

Care.fi intends to use the fresh capital to:

• Expand into additional Indian cities

• Accelerate international expansion in the United States and the Middle East

• Invest further in product development and AI capabilities

Last month, Care.fi acquired Bengaluru-based Aldun, a discharge automation platform, aiming to reduce hospital discharge times from hours to just 10 minutes. The startup plans to scale from 10,000 to nearly 100,000 automated discharges per month, significantly improving hospital operational efficiency.

Supporting Hospitals in a Cashless Ecosystem

The growth of cashless hospital care across government and private insurance schemes has increased claims volumes, compliance requirements, and working capital needs. Care.fi has reportedly grown its assets under management by more than 10% year-on-year, helping hospitals navigate rising operational complexities while reducing administrative burdens.

With its innovative AI-first approach and strategic funding, Care.fi is positioned to reshape healthcare fintech, making hospital revenue management faster, smarter, and more efficient.

FAQs About Care.fi and Its Funding

1. What is Care.fi?
   Care.fi is an AI-powered healthcare fintech startup that automates hospital revenue operations.

2. How much did Care.fi raise in its latest funding round?
   The startup raised $8 million (Rs 72.46 crore) in Series A funding.

3. Who are the co-founders of Care.fi?
   Vikrant Agrawal and Sidak Singh founded Care.fi in 2021.

4. Which investors participated in the funding round?
   Equity was led by July Ventures, with Peak XV Partners, Accion Venture Lab, and Sadev Ventures. Debt came from Trifecta Capital and Vivriti.

5. What does Care.fi’s platform do?
   It manages hospital documentation, coding, claims processing, collections, and provides financing solutions.

6. How quickly can Care.fi disburse insurance claims?
   Claims can be disbursed in as little as 10 minutes.

7. Which government schemes does Care.fi support?
   It supports schemes like Ayushman Bharat and ESI.

8. What was the purpose of acquiring Aldun?
   To automate hospital discharges, reducing waiting times from hours to 10 minutes.

9. Where does Care.fi plan to expand?
   Additional Indian cities and internationally to the US and Middle East.

10. How has Care.fi grown recently?
    Its assets under management have grown over 10% year-on-year, reflecting increased adoption.