QubeHealth Raises Pre-Series A Funding from Unicorn India, CanBank VC

This investment positions QubeHealth for its upcoming Series A round, where it aims to raise $9 million at a valuation of INR 270 Cr.

QubeHealth, a healthcare payments firm, has secured an undisclosed amount in a pre-series A funding round from Unicorn India Ventures and CanBank Venture Capital Fund, a Canara Bank subsidiary.

This investment positions QubeHealth for its upcoming Series A round, where it aims to raise $9 million at a valuation of INR 270 Cr, according to a press release.

The company plans to use the funds to advance its technology and introduce new features, including embedded insurance, a generative AI recommendation engine, and a healthcare marketplace.

“We are seeing massive growth, even though we are limited to the B2B2C channel for now. Employees of our corporate clients are adding their family members and are paying for their healthcare multiple times in a month, giving us deep insights about out-of-pocket healthcare spending in India,” said Chris George, co-founder and CEO of QubeHealth.

QubeHealth’s QubePay mobile app integrates payments, financing, and insurance, offering users discounts, medical finance options, and access to healthcare providers without network restrictions.

Sharing thoughts, Bhaskar Majumdar, managing partner at Unicorn India Ventures, said, “It is no secret that medical bills that are not covered by insurance cause considerable financial stress among families. We have seen Qube’s growth over the years, and their product market fit has shown encouraging results,”

India’s healthcare sector currently experiences over $50 billion in annual out-of-pocket spending, which often leads to financial stress for families. QubeHealth aims to streamline these transactions as digital payments become more prevalent.

The startup, which distributes its products through a B2B2C model, has reported over 400% growth this year and expects to process more than INR 100 Cr in healthcare payments by the end of the financial year, according to the press release.

Stay tuned for more such updates on Digital Health News.