Health­care startup Af­ford­plan se­cures $10M fund­ing

BioSpectrum (India) - - START UP NEWS -

New Delhi based fin­tech startup Af­ford­plan which works for the health­care space has raised $10 mil­lion in Se­ries B round of fund­ing led by Lok Cap­i­tal. Omid­yar Net­work, along­side ex­ist­ing in­vestors Prime Ven­ture Part­ners and Kalaari Cap­i­tal also par­tic­i­pated in this round.

The startup plans to use the fund­ing to meet the grow­ing de­mand for its plat­form and to ad­vance the coun­try­wide adop­tion of Af­ford­plan in var­i­ous hos­pi­tals. It fur­ther aims to launch new sav­ings, lend­ing and in­sur­ance prod­ucts to cover med­i­cal and health­care ex­penses.

Af­ford­plan is also plan­ning an ex­pan­sion and is look­ing to hire more than 200 em­ploy­ees across In­dia by the end of 2018. In the next 12-18 months, the startup will fo­cus on build­ing a full stack of fi­nan­cial ser­vices prod­ucts for health­care and deep­en­ing its cor­re­spond­ing distri­bu­tion and sup­ply chain ca­pa­bil­i­ties. Also, with its newer prod­ucts, the startup aims to reach to govern­ment hos­pi­tals as well as for emer­gency pur­poses.

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