To leverage newly-acquired capital for intensifying expansion plans and introducing new services New Delhi, May 03, 2017: Credihealth, India’s leading medical assistance company has successfully concluded its Pre-Series A funding round. The healthcare startup has secured an investment of USD 1.5 million from Tolaram Inc., family office investment arm of Tolaram Group and Mountain Pine Capital. BalaSwaminathan (Ex) KPMG partner, one of the earliest investors in the platform and has invested in this round as well. After growing exponentially within three years of inception, Credihealth has already achieved break even and has been maintaining a positive cash flow since an early stage. With this round of funding, Credihealth aims to expand its operations and fund the new services to address the non-clinical pain points of patients.
Commenting on the funding, Mr. Ravi Virmani, Founder and Managing Director, Credihealth said, “More than money, it is innovation and steady growth that are needed to survive in the market today. We are already a company with a consistent and positive cash flow and have achieved substantial growth in the past few quarters. The funding will primarily be utilised to augment technology and infrastructure to expand services and introduce new products. Most importantly, the guidance and mentorship of our investors is what we are looking forward to, for sustained evolution of Credihealth.”
Manish Tibrewal, CEO of Tolaram Inc. said, “The Indian start-up landscape has exhibited exceptional growth across industries and we are glad to participate in such a vibrant market with a high-potential healthcare startup. There is an urgent need for drastic improvements in India’s healthcare delivery system and to bring transparency for the patients. Standing true to its name of providing credible healthcare assistance, Credihealth is currently one of the most disruptive healthcare startups in the Indian market, having achieved such phenomenal growth in a very short period of time. It is most certainly one of the few startups in India to watch out for.”
Spokesperson Sasha Breen, Mountain Pine Capital, said, “India currently has one of the most innovative start-up industries in the world. The health-tech sector particularly has been growing rapidly. Credihealth has a robust business model, a consumer-centric approach and is backed by a superior team and tech infrastructure. We are determined to help in developing India’s healthcare industry by helping the company build on its expertise and expand the consumer base with its dynamic offerings.”
Credihealth is India’s leading medical assistance company at the center of the healthcare delivery space. It leverages technology to offer complete support for all medical needs of consumers. The company has already been hailed as ‘The Google of Healthcare’. It is the only Indian healthcare company to have tie-ups with over 630 hospitals in tier 1 as well as tier 2 geographies, and has partnerships with leading names such as Fortis, Medanta, Columbia Asia, BLK, Paras, Artemis, etc. It provides extensive healthcare assistance to patients supporting them in managing all their hospital needs.
Corporate Comm India(CCI Newswire)