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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. Present traders Chiratae Ventures and Rebright Companions additionally participated.
ClaimBuddy will use the funding to advance its know-how, develop its group and gross sales community, and add new product traces 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 associate hospitals throughout India.
Khet Singh Rajpurohit, CEO at ClaimBuddy, said: “Our imaginative and prescient for ClaimBuddy has at all times been to alleviate the burden on each sufferers and hospitals in navigating complexities of healthcare bills & medical health insurance claims. With this vital funding, we’re well-positioned to introduce modern monetary instruments & scale our operations and proceed driving significant influence within the healthcare business.
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 deliver to the healthcare ecosystem and can gas our efforts to additional innovate and develop our companies, in the end bettering entry to high quality take care of sufferers throughout India.”
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Ashwin Raguraman, co-founder and associate, Bharat Innovation Fund, added: “Sufferers nonetheless face very primary issues of their pace of discharge and settlement of a medical health insurance declare made by means of the reimbursement mode. With a powerful understanding of thie challenges on this area, Khet and Ajit are serving to clear up this drawback and having acquired among the finest recognized hospital chains in India as clients, are poised to deliver a really optimistic influence within the affected person experiences throughout the nation. We look ahead to present a tailwind to their efforts.”
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