QubeHealth gets pre-series A funding from Unicorn India & CanBank VC

QubeHealth, a healthcare payments firm based in Mumbai, has raised an undisclosed amount in a pre-series A round from Unicorn India Ventures and CanBank Venture Capital Fund, a subsidiary of Canara Bank.

 

The investment positions QubeHealth for its upcoming Series A round, targeting $9 million at a valuation of Rs 270 crore, according to a press release.

 

The company plans to channel the fresh capital into expanding its technological capabilities and launching new features, including embedded insurance, a generative AI-powered recommendation engine, and a healthcare marketplace.

 

“We are seeing massive growth, even though we are limited to the B2B2C channel for now,” said Chris George, co-founder, CEO, QubeHealth. “Employees of our corporate clients are adding their family members, and are paying for their healthcare multiple times in a month, giving us deep insights about out-of-pocket healthcare spending in India.”

 

 

QubeHealth integrates payments infrastructure, financing, and insurance into its QubePay mobile app, offering discounts, medical finance, and access to healthcare providers without network restrictions, stated the press release.

 

“It is no secret that medical bills that are not covered by insurance cause considerable financial stress among families. We have seen Qube’s growth over the years and their product market fit has shown encouraging results,” said Bhaskar Majumdar, managing partner, Unicorn India Ventures.

 

As India's healthcare landscape is marked by over $50 billion in annual out-of-pocket spending, often leading to financial strain, the company aims to streamline these transactions as digital payments become the norm.

 

The payments startup has been growing at over 400 per cent this year, distributing its product through B2B2C channel, and is on track to process over Rs 100 crore of healthcare payments by the end of this financial year, according to the press release.