QubeHealth raises an undisclosed amount in Pre-series A funding led by the US-based New Horizon Ventures, ThinKuvate (Singapore), and others

• ByStartupStory     |    November 10, 2022

QubeHealth, a healthtech business, said on Wednesday that it has raised an undisclosed sum in a pre-series A round led by New Horizon Ventures in the United States and ThinKuvate in Singapore, alongside previous investor Keiretsu Forum.

Axiomatic Ventures, Inflection Point Ventures, and other angel investors from India and the United States also contributed to the financing.

The new resources will be used by the Mumbai-based platform for expansion, scaling up its company, and further investing in expanding its technology stack.

QubeHealth, which was founded in 2016, is a platform dedicated to resolving funding issues for healthcare expenses that are not covered by medical insurance. It claims to provide interest-free healthcare financing to business employees who subscribe to its service. By the end of March next year, the business hopes to have 100,000 users.

Speaking on the funding, Chris George, Co-Founder & CEO, QubeHealth said, “We’re on a mission to change the way we Indians will pay for our healthcare and providing no-cost healthcare credit is just the start.” He further added, “This funding round sets us up to deliver on the business metrics we have been chasing and beyond. The inbound interest we have seen from marquee institutional investors since early this year, has been overwhelming, and we’re excited to close our Series-A within the next six months.”

Commenting on the partnership, Subbu Meiyappan, (Principal), New Horizon Ventures said, “Healthcare financing that tackles out-of-pocket medical expenses is an area that is grabbing attention globally. From mature markets like the US to developing nations in Africa, it is known fact that health insurance is never enough and people routinely borrow to pay for care. QubeHealth is solving a massive problem for the Indian market, providing credit-on-tap to employed Indians, in a manner that does NOT put them into a debt trap.”

QubeHealth claims to have created strategic alliances with over 600 health-care businesses and over 11,000 hospitals and clinics around the country.

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