SaveIn, a fintech startup, has raised $1.1 million in a seed round led by Bayhouse Capital, bringing its total investment to over $5 million.
In April, the Gurugram-based business raised $4 million (about Rs 30 crore) in a seed round from existing backer, Silicon Valley’s famed accelerator Y Combinator, and others such as 10X Group, Leonis VC, and Goodwater Capital.
In April, Nordstar, Rebel Fund, Pioneer Fund, Soma Capital, and SCM Advisors joined the funding round.
The company had stated that it would use the funds to develop its product, hire people, and invest in branding.
The extended capital raised will be used primarily for product development.
SaveIn was founded in 2020 by Jitin Bhasin, Anurag Varma, and Gaurav Luthra to meet the requirements of patients by providing zero-cost equivalent monthly instalments (EMIs) throughout its network of healthcare providers.
The startup covers outpatient services and elective healthcare procedures like dental, eye care, veterinary, dermatology, hair care, and fertility.
“This is a testimony to our vision of creating India’s largest integrated healthcare ecosystem powering access, quality and affordability in private healthcare,” Bhasin said.
The company currently offers its instant zero-cost EMI products to over 600 healthcare providers across 15 cities, it said.
“The buy-now-pay-later segment in healthcare is huge and we at SaveIn have grown over 15 times in revenue…this is reflective of strong signs of early product-market fit and we are confident of revolutionizing how Indians consume healthcare products and services,” Bhasin said.