Healspan Secures Seed Funding to Propel Growth and Hospital Network Expansion
Written by Sirish Dixit
Healspan raises seed funding led by Lead Angels, securing capital to enhance claims management technology, grow its hospital network, and expand into new regions. Co-founders see this as a critical step in reshaping healthcare claims efficiency across India’s hospitals.
Insurance-tech startup Healspan recently raised seed funding led by Lead Angels, with notable participation from angel investors including Ankitt Jain (Founder of Paper Arizona), Srijith Nair (Founder and CEO of Gowelnext Solutions), and The Doctorpreneur Academy. Following a pre-seed investment of Rs 1.2 crore last year, Healspan’s latest funding marks a strategic milestone for accelerating its development in the insurtech sector.
Healspan, based in Bengaluru, aims to leverage this investment to expand its hospital network and streamline healthcare claims management. The funds will support marketing, sales, and talent acquisition, with a particular focus on engineering enhancements that enable solutions to ease hospital administrative challenges.
Co-founders Sabarinath U and Abhi Sinha expressed their enthusiasm: “Healspan’s recent funding validates our progress and supports our vision for rapid growth. We are set to expand our product line, build a strong sales team, and deepen our network of partner hospitals across India. This investment will empower us to capture a larger market share while addressing critical gaps in the healthcare claims sector.”
Hanuman Tripathi, Partner in Fintech at Lead Angels, highlighted the decision to back Healspan, noting, “Healspan’s tech-driven approach to reducing delays in medical claims is essential to improving hospital and patient experiences. The dedication and market insights demonstrated by Sabarinath and Abhi are truly inspiring. We look forward to supporting their journey and driving their mission forward.”
Currently, Healspan collaborates with over 50 hospitals across 10 cities, focusing on improving claim efficiency and cashless payment processing. With a threefold increase in revenue over the past six months, Healspan plans to expand into Eastern India and reach 200 partner hospitals by the close of fiscal 2024-25. This growth trajectory positions Healspan for another funding round by next year, underscoring its commitment to transforming India’s healthcare ecosystem.