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Kalaari Capital-backed start-up AffordPlan raises $10 million funding

AffordPlan's savings product makes quality health care more affordable to everyday Indians, says Kalaari Capital MD Vani Kola

BS Reporter/Samreen Ahamad  |  Bengaluru 

Illustration: Binay Sinha

AffordPlan, a Kalaari Capital-backed savings led platform for medical expenses, has raised $10 million (Rs 654 million) in Series B funding led by Omidyar Network, alongside existing investors and also participated in the round.

The Delhi-based start-up, which makes non-emergency expensive procedures such eye care, pregnancy, dental, plastic surgeries, orthopedic, affordable by partnering with hospitals, will be using the funding on deepening its supply chain and launching new financial services products.

On the fund-raise, cofounder Venky Natarajan said, “For the longest period, we have been looking for suitable in the spectrum to mitigate the risks of and their families getting trapped into the vicious cycle of debt trap rising out of unmanageable health care expenses. We believe that will help solve this problem through their range of products over the next few years.”

The company had earlier raised $3 million as a part of its Series A funding led by and co-invested by

In the absence of widespread adoption of health insurance by consumers, there is an acute and unmet need for affordable and quality healthcare, according to Managing Director Vani Kola, who says AffordPlan’s savings product makes quality health care more affordable to everyday Indians.

It allows consumers to decide how much to save on a daily, weekly, or monthly basis and then make regular payments at their convenience. Consumers also receive discounts on medical bills and diagnostic services when they use services, bringing the overall treatment costs down by 15-20 per cent.

The company, which has partnered with over 300 in the country and has reached more than 100,000 patients, is looking to hire more than 200 employees across India by the end of the year.

First Published: Mon, April 16 2018. 19:29 IST