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Care.fi will use the money to develop new products and expand over the American, Middle Eastern, and Indian markets.
Take care.With participation from Accion Ventures and Sadev Ventures, Fi Technological Solutions Private Limited has received $8 million through a Series A fundraising effort headed by July Ventures and Peak XV Partners.
Lead investor July Ventures received advice on this fundraising from NovoJuris Legal. The firm was instrumental in examining financing paperwork, coordinating with parties, doing due diligence on the regulatory environment across the fintech, healthtech, insurtech, and NBFC sectors, and making sure the transaction went through smoothly.
With assistance from Amol Chitnis, a junior partner, and Namrata Dubey, a senior associate, Ashwin Bhat, a deputy managing partner, led the transaction team.
Care.Fi is involved in offering services with a healthcare focus. The business runs an AI-powered platform through its subsidiaries that assists hospitals in handling large-scale documentation, coding, claims processing, and collections. Its NBFC division offers working capital solutions that make cash flows predictable.
The money will be used for product development and expansion in the Middle East, the US, and India.
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