BharatPe co-founder Ashneer Grover ventures into fintech with ZeroPe app

BharatPe co-founder and former managing director Ashneer Grover is gearing up for a new venture in the fintech space with ZeroPe, an app designed for medical loans, reported Moneycontrol.

ZeroPe, currently in its testing phase, has been developed by Third Unicorn, according to its Google Playstore listing. 

The ZeroPe app is set to provide instant pre-approved medical loans of up to Rs 500,000 in collaboration with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. The service is exclusively available at partnered hospitals, as mentioned on the ZeroPe app website.

Grover's entry into this arena adds to a growing trend, with businesses like SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health already offering instant financing solutions for medical bills and elective treatments.

In January 2023, Grover, along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri, launched Third Unicorn. 

Third Unicorn started out with CrickPe to compete with rivals such as Dream11, Mobile Premier League (MPL), and Games24x7's My11 Circle. The company raised $3.5 million in a seed funding round led by ZNL Growth Fund, with participation from Vevek Ventures Investments and Rishaayu LLP.

The digital landscape is witnessing a surge in startups offering data-driven medical loans catering to various healthcare needs, including hospitalisation, home care, and chronic care management. These startups aim to integrate hospital networks, health insurance providers, and government healthcare schemes into their offerings.

A joint report by consulting firm Boston Consulting Group and Singapore-based venture capital firm B Capital projects India's digital healthcare market to potentially generate $37 billion in revenue by 2030, with healthcare financing estimated to contribute $5 billion to this figure.