Healthcare-focused fintech startup Care.fi has raised $2 million (Rs 16 crore) in debt capital from Trifecta Capital, along with an additional $0.6 million (Rs 5 crore) from UC Inclusive Credit.

The funds will be used to scale its book size, expand operations, enhance the business, and strengthen the team, according to a press release by Care.fi.

Co-founded in 2021 by Sidak Singh and Vikrant Agarwal, Care.fi is a fintech company providing smart financing solutions to hospitals, doctors, and allied suppliers. It aims to bridge funding gaps within the healthcare industry by addressing the financial needs of healthcare professionals and institutions, thereby facilitating smoother operations and accelerated growth.

Based in Gurugram, Care.fi claims to work with over 50 hospitals and has assisted more than 2,000 patients. The company reports a fourfold increase in total disbursals, with cumulative disbursals reaching $48 million (Rs 400 crore).

Within two years of operation, Care.fi has obtained an NBFC (Non-Banking Financial Company) license. It joins other major players in the healthcare financing space, such as CarePay, SaveIn, and Bajaj Finserv Health.

The recent funding will enable Care.fi to further its mission of providing essential financial services to the healthcare sector, supporting its continued growth and impact on the industry.