ClaimBuddy, a health insurance claim assistance platform, has successfully concluded its Series A funding round, securing $5 million in investment.
Leading the investment is BIF (Bharat Innovation Fund), with participation from Japanese fund CAC Capital, and existing investors such as Chiratae Ventures and Rebright Partners. This infusion of capital will enable ClaimBuddy to advance its technology, expand its team and sales network, and introduce new product lines to its expanding network of hospitals.
Founded by Khet Singh Rajpurohit and Ajit Patel, ClaimBuddy aims to streamline the healthcare financing space by addressing the challenges faced by patients and hospitals during the health insurance claim process. Originating amidst the Covid-19 pandemic, the co-founders leveraged their prior healthcare sector experience to identify a critical gap in efficient claims management. Since inception, ClaimBuddy has processed claims for over 35,000 patients, amounting to over 500+ Crores, and has forged collaborations with 250+ partner hospitals across India.
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Khet Singh Rajpurohit, CEO of ClaimBuddy, expressed the company’s vision to alleviate the burden on patients and hospitals by navigating healthcare expenses and insurance claims complexities. With this substantial investment, ClaimBuddy is poised to introduce innovative financial tools, scale operations, and continue driving impactful change in the healthcare industry.
Ajit Patel, Co-founder of ClaimBuddy, highlighted the excitement for the opportunities ahead, emphasizing the investment’s validation of the value they bring to the healthcare ecosystem. This funding will further fuel their efforts to innovate and expand services, ultimately enhancing access to quality care for patients nationwide.
Ashwin Raguraman, Co-founder and Partner at Bharat Innovation Fund, acknowledged the persistent basic problems patients face in the healthcare system, indicating the potential for ClaimBuddy to address these issues.
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