NationWide Primary Healthcare Services (NationWide – The Family Doctors), has raised Rs 5.50 crores in a fresh round of venture debt funding led by SVB India Finance.
Till now, NationWide – The Family Doctors has raised a total of Rs 31 crores in the form of angel investment and private equity funding from Norwest Venture Partners. The funds raised this time around are in the form of venture debt, bringing the total funding to close to Rs 37 crores. The new infusion of funds will be used by NationWide to diversify and further their expansion plans.
Dr Santanu Chattopadhyay, Founder and CEO, NationWide -The Family Doctors said, “NationWide is at a stage of rapid expansion, aligning with its vision of achieving quality urban primary healthcare in India. This round of funding will enable us to focus our efforts on the expansion of our clinics to newer geographies and help ensure that every family has access to a competent and patient-centric family doctor.”
NationWide – The Family Doctors is Bangalore-based a chain of primary care clinics and co-founded by Chattopadhyay and Dr Shantanu Rahman. NationWide, through the Family Doctor concept aims to meet the need for quality, accessible and affordable healthcare.
The company currently operates over 20 open-to-public and corporate clinics across Bangalore and Gurgaon, and will be launching new clinics in Delhi and the rest of NCR shortly. Over the next five years, NationWide plans to have a presence of around 1,000 clinics across India.
SVB India Finance is India’s premier venture and growth debt provider for high-growth companies. It was started in Mumbai in 2008 and is positioned as a specialty lending business. They offer multiple sources of diverse debt capital including venture debt, mezzanine debt, acquisition financing, growth capital and capex financing.