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Insurtech ClaimBuddy has closed its Sequence A funding spherical and garnered $5m in funding.
The funding for ClaimBuddy was led by BIF and in addition witnessed participation from Japanese fund CAC Capital. Current traders Chiratae Ventures and Rebright Companions additionally participated.
ClaimBuddy will use the funding to advance its know-how, broaden its staff and gross sales community, and add new product strains for its rising community of hospitals.
Since its inception, ClaimBussy has processed claims for over 35,000 sufferers and has established collaborations with over 250 companion hospitals throughout India.
Khet Singh Rajpurohit, CEO at ClaimBuddy, acknowledged: “Our imaginative and prescient for ClaimBuddy has all the time been to alleviate the burden on each sufferers and hospitals in navigating complexities of healthcare bills & medical insurance claims. With this vital funding, we’re well-positioned to introduce progressive monetary instruments & scale our operations and proceed driving significant influence within the healthcare trade.
Ajit Patel, co-founder at ClaimBuddy, continued: “We’re extremely excited in regards to the alternatives that lie forward for ClaimBuddy. This funding is a testomony to the worth we carry to the healthcare ecosystem and can gas our efforts to additional innovate and broaden our providers, finally enhancing entry to high quality look after sufferers throughout India.”
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Ashwin Raguraman, co-founder and companion, Bharat Innovation Fund, added: “Sufferers nonetheless face very fundamental issues of their velocity of discharge and settlement of a medical insurance declare made by way of the reimbursement mode. With a powerful understanding of thie challenges on this area, Khet and Ajit are serving to clear up this downside and having acquired a few of the greatest recognized hospital chains in India as clients, are poised to carry a really constructive influence within the affected person experiences throughout the nation. We stay up for present a tailwind to their efforts.”
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