Medfin raises $15mn in series B funding; plans to expand in 25 cities

Medfin, plans to complete 100,000 surgeries by the end of 2022

Healthcare provider Medfin has raised $15 million in Series B funding from a group of marquee investors including Arka Nxt, HealthXCapital (Singapore), Blume Ventures, Axilor Ventures, Sony, and Kotak Investments. 

Medfin plans to expand to over 25 cities across the country with these funds. It plans to invest in research & development, technology, process, and people enabling it to offer patients a one-stop comprehensive service platform for 250+ types of daycare surgeries.

The company has previously raised $4 million in funding.

Arjun Kumar, Founder and CEO at Medfin, said, "A large part of the population in India falls in the low to medium income bracket and daycare surgeries can really benefit them. At Medfin we combine value-based care, advanced technology, and superior patient experience to deliver better health outcomes while containing costs.”

Medfin was founded in 2017 by Arjun Kumar, Arun Kumar, and Sidharth Gurjar. Within the sector, they noticed that surgery was a core component. With valuable experience and backgrounds in the consumer internet and healthcare space, the trio have worked together previously. 

Innovation and advances in clinical approaches and technology have enabled numerous procedures to migrate into the ambulatory care or day care setting. This also makes the entire process more affordable as these are usually specialized surgery centers that do not take on the burden of large real estate costs and inflated staff requirements.

“What Medfin is doing will redefine surgical care in India. They are well on their way to becoming India’s largest day-care surgery provider. We are happy to partner with them in this journey,” said Vikram Kailas from Arka Nxt Ventures.

Seemant Jauhari, HealthXCapital opines “With variable quality, outcomes, pricing plaguing healthcare services the patient is often confused and lacks trust. Medfin is simplifying this by providing a one-stop-shop that handholds the patient across one's journey with a standardized service. Balancing access with great outcomes enables patient trust! This is key to Medfin and sets them apart from other such providers.”

Medfin’s vision is to build India's first and most affordable network of ambulatory surgery centers focused on a delightful patient experience. The company plans to complete 100,000 surgeries by the end of 2022. Indian surgical care sector is expected to advance at a compound annual growth rate of 22 per cent during 2016-2022 to reach $100 Billion by 2022