QubeHealth, a healthcare payments innovator based in Mumbai, has secured an undisclosed amount in Pre-Series A funding, co-led by Unicorn India Ventures and CanBank Venture Capital Fund through their VI Fund "Empower India Fund." This round strategically positions the company for its Series-A round at a valuation of approximately ₹270 crore. The funding will accelerate QubeHealth’s technological advancements, focusing on embedded insurance, a generative AI-driven recommendation engine, and a comprehensive healthcare marketplace.

QubeHealth is set to leverage this investment to expand its offerings, enhancing its QubeHealth-Pay app to better serve its growing user base. The app enables users to pay healthcare bills at any hospital, clinic, pharmacy, or doctor's office in India through various funding options. Additionally, users enjoy instant cash-back discounts on every bill paid and quick access to medical finance if their insurance does not cover the bill.

The QubeHealth-Pay platform is utilized by employees and families of major companies such as Flipkart, Tata-Teleservices, and over 300 other employers across India. The company has seen impressive growth, scaling at over 400% this year by distributing its products through a B2B2C model. QubeHealth is on track to process over ₹100 crore in healthcare payments by the end of the financial year.

According to the company, India's out-of-pocket healthcare spending exceeds $50 billion annually, primarily covering costs not insured. With India’s rapid shift toward digital payments, QubeHealth-Pay is helping streamline these expenditures, ensuring more efficient, cashless healthcare transactions.