Qube Health raises Rs 25 cr in funding
Healthcare payments startup Qube Health has raised Rs 25 crore in a pre-series-A round from its existing investors Inflection Point Ventures and Green Ivy Ventures, and a few family office investors, at a valuation of Rs 200 crore. Qube offers a payment system and healthcare credit line to employees of corporates that sign up.
Its offer comes as a complement to the group health insurance policy provided by employers and also helps a person from out-of-pocket medical bills or those not fully covered by the health coverage, to paying non-cashless bill payments.
Its customers can borrow and pay from a pre-assigned credit limit within one year with no interest or fees. While the credit line is free for employees, it charges a subscription fee from employers on behalf of the employee.
The AI-driven healthtech platform has already aggregated over 11,000 hospitals and clinics, and partners with insuretechs, insurance companies, insurance brokers, e-pharmacy chains and others within the ecosystem.
Though a statement from the city-based startup — cofounded by Chris George and Gagan Kapur in late 2019 — did not quantify the investment and equity dilution, a source in the know of the Rs 25 crore top-up deal told PTI on Monday that through this transaction the founders have diluted 10 per cent of their holding, valuing it at Rs 200 crore.
