Healthtech Startup QubeHealth Secures Additional Funding in Pre-Series-A Round from Inflection Point Ventures, Others 

While the specific funding figure remains undisclosed, QubeHealth has shared that it has initiated medical credit worth INR 1000 Cr, roughly equivalent to $135 million, benefiting over 200,000 employees from 270 Indian corporations. 

Mumbai-based healthcare payments company QubeHealth has received a top-up of its Pre-Series-A funding round, led by Inflection Point Ventures, Green Ivy Ventures, and other Family Investment offices.  

This funding round also saw participation from Keiretsu Forum and existing shareholders, although the exact amount remains undisclosed.  

Sharing perspective on India's family healthcare expenditure format, cofounder and CEO of QubeHealth, Chris George, said, "Qube is changing how Indians pay for their family's healthcare. Integrating payment methods, no-cost medical loans, an open network of healthcare providers, we are on a mission to make healthcare payments, frictionless. This funding round adds to our pre-series-A corpus and gives us a runway of up to two years while setting us up for our upcoming Series-A." 

One of QubeHealth's key offerings is its QubeHealth-Credit product, which provides a payment system and healthcare credit line to employees of companies that subscribe to the service. This complements the group health insurance policies employers offer, covering medical expenses not fully covered by insurance, non-cashless bill payments, and outpatient department (OPD) costs.  

Users can borrow and pay back as needed within a specified credit limit, with no interest or fees on repayments. While employees enjoy this credit line at no cost, employers pay a small subscription fee on their behalf. 

With medical inflation doubling in the last five years and insurance often proving inadequate, Indians find themselves paying over $55 billion annually out-of-pocket for healthcare expenses. QubeHealth operates in this healthcare market segment, leveraging embedded finance and payment systems to provide better access and options for employed Indians. 

Though the exact funding amount remains confidential, QubeHealth disclosed that it has already activated INR 1000 Cr (approximately $135 million) of medical credit for over 2 Lakh (200,000) employees across 270 Indian corporations.  

Over the next three years, the company aims to deploy INR 3000 Cr (approximately $405 million) in medical credit, enabling swift payments via its mobile app to any hospital or clinic in India. This payment process seamlessly connects users' bank accounts, insurance payments, employer reimbursements, and Qube's no-cost credit line. 

For now, QubeHealth's services are exclusively available through Indian employers. 

Mitesh Shah, cofounder of Inflection Point Ventures, commented on the investment, emphasising the promising intersection of finance and healthcare in India. He praised QubeHealth for its prudent approach to building the company, which has led to significant growth since its initial investment two years ago. 

Puneet Kothapa, representing Green Ivy Ventures, acknowledged the widespread concern among Indians regarding healthcare expenses and lauded Qube's innovative solution for empowering individuals to manage these costs. He believes that Qube is on a trajectory to effectively address India's healthcare access challenges. 

QubeHealth operates with the support of over 270 of India's largest employers, collaborating with over 600 health service providers and connecting to more than 11,000 hospitals, clinics, and doctors.  

It has secured Pre-Series-A funding from investors such as Keiretsu Forum, Axiomatic Ventures, New Horizon Ventures, and Mohit Burman, chairman of Dabur India Ltd., along with prominent Indian and international angel investors. 

In another development within the healthtech realm, Gurugram-based mental health platform LISSUN successfully raised $1.3 million in a seed funding round. This round was led by Inflection Point Ventures (IPV) and Rainmatter Capital from the Zerodha Group. To date, LISSUN has accumulated over $2.3 million in funding, as stated by the company.