Fintech startup SaveIn bags additional $1.1 mn in funding led by Bayhouse Capital
- ByStartupStory | May 26, 2022
Y Combinator-backed fintech startup SaveIn has secured $1.1 million in an expanded seed round led by Bayhouse Capital, bringing its total investment to more than $5 million. In April, the Gurugram-based business secured $4 million (about Rs 30 crore) in a seed round led by previous investor, Silicon Valley’s legendary incubator Y Combinator, and others including 10X Group, Leonis VC, and Goodwater Capital.
Nordstar, Rebel Fund, Pioneer Fund, Soma Capital, and SCM Advisors all took part in the April investment round. The firm stated that it would use the funds to improve its product, incorporate more employees, and invest on branding. The additional funds raised will be used mostly for product development.
SaveIn, founded in 2020 by Jitin Bhasin, Anurag Varma, and Gaurav Luthra, provides to healthcare requirements by providing financing and credit solutions to patients through its network of healthcare providers at zero-cost equivalent monthly instalments (EMIs). Outpatient treatments and elective healthcare procedures such as dentistry, eye care, veterinary, dermatology, haircare, and fertility are all covered by the startup.
Jatin Bhasin, the founder and CEO of SaveIn said that this demonstrates the firm’s aim of building India’s greatest integrated healthcare ecosystem to enable access, quality, and affordability in private healthcare. It presently sells its quick zero-cost EMI solutions to over 600 healthcare providers in 15 locations. The buy-now-pay-later category in healthcare is massive, and SaveIn has grown more than 15 times in sales. He further added that the company is sure of reinventing how Indians consume healthcare products and services citing early indicators of product-market fit.
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