Deep-Tech-focused, early-stage venture fund Unicorn India Ventures and CanBank Venture Capital Fund have led an undisclosed investment into QubeHealth, a healthcare payments company based in Mumbai, as part of its Pre-Series-A funding round. This move prepares QubeHealth for its upcoming Series-A round, with a projected Rs. 270 crore valuation.
The funds will accelerate QubeHealth’s tech development and enable new feature launches, such as embedded insurance, a gen-AI-powered recommendation engine, and a healthcare marketplace. The company aims to raise around $9 million in its forthcoming Series-A round.
“We are seeing massive growth, even though we are limited to the B2B-2C channel, for now,” said Chris George, co-founder & CEO of QubeHealth.
“Employees of our corporate clients are adding their family members and are paying for their healthcare multiple times in a month, giving us deep insights about out-of-pocket healthcare spending in India. We look forward to leveraging the support and guidance of these two institutional investors as we grow and prepare for our upcoming Series-A,” George said.
QubeHealth-Pay, a mobile app, empowers Indians to pay for family healthcare bills from various fund sources, covering hospitals, clinics, doctors, and pharmacies. Users benefit from an instant cash-back discount on every payment and can access immediate medical financing if health insurance doesn’t cover the bill.
Employees and their families from major Indian companies, like Flipkart, Tata Teleservices, and 300 other employers, actively use the QubePay app to pay at any health or medical provider in India. QubeHealth has achieved over 400% growth this year by distributing its product through employers to employees and their families via a B2B2C channel. By the end of the financial year, Qube is on course to process over Rs 100 crore in healthcare payments.
