Bengaluru-based healthcare provider has raised $15 million in Series B funding from a group of marquee investors including Arka Nxt, HealthXCapital (Singapore), Blume Ventures, Axilor Ventures, Sony and Kotak Investments.
With these funds, Medfin plans to aggressively expand to 25+ cities across the country. The startup said plans to invest in R&D, technology, process and people enabling it to offer patients a one-stop comprehensive service platform for 250+ types of day care surgeries from the funding.
Arjun Kumar, Founder and CEO at Medfin, said,
“A large part of the population in India falls in the low to medium income bracket and daycare surgeries can really benefit them. At Medfin, we combine value-based care, advanced technology, and superior patient experience to deliver better health outcomes while containing costs.”
Medfin claims to offer patients access to the latest surgical treatment procedures at affordable prices in the most hassle-free manner. Medfin’s model offers surgeries across departments from ophthalmology to orthopaedics. The company has previously raised $4 million in funding.
Medfin currently operates in some of the major cities and offers 250+ day care surgical procedures. Medfin was founded in 2017 by Arjun Kumar, Arun Kumar, and Sidharth Gurjar.
Medfin helps patients navigate the entire surgical and diagnostics processes, including connecting them with surgeons, finding the right course of treatment, performing cost estimates, and insurance coverage checks. Since the last round of funding, Medfin has expanded to cover more cities and has also introduced many more day care surgeries across departments.
“What Medfin is doing will redefine surgical care in India. They are well on their way to becoming India’s largest day-care surgery provider. We are happy to partner with them in this journey,” said Vikram Kailas from Arka Nxt Ventures.
Seemant Jauhari, HealthXCapital opines, “With variable quality, outcomes, and pricing plaguing healthcare services, the patient is often confused and lacks trust. Medfin is simplifying this by providing a one-stop-shop which handholds the patient across one's journey with a standardised service. Balancing access with great outcomes enables patient trust! This is key to Medfin and sets them apart from other such providers.”
Medfin’s vision is to build India's first and most affordable network of ambulatory surgery centers focused on delightful patient experience. The company plans to complete one lakh surgeries by the end of 2022.
Edited by Megha Reddy