Unicorn India, CanBank Invest in QubeHealth's Health-Tech Platform With the fresh funding, QubeHealth plans to enhance its platform with new features, including embedded insurance, a generative AI-driven recommendation engine, and a healthcare marketplace.
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Unicorn India Ventures and CanBank Venture Capital Fund, through their VI Fund "Empower India Fund," recently made an undisclosed investment in Mumbai-based healthcare payments startup QubeHealth as part of its Pre-Series A funding round.
This strategic investment places QubeHealth at a valuation of INR 270 crore, paving the way for its upcoming Series A round, where the company aims to raise approximately USD 9 million later this financial year.
With the fresh funding, QubeHealth plans to enhance its platform with new features, including embedded insurance, a generative AI-driven recommendation engine, and a healthcare marketplace.
Chris George, Co-founder and CEO of QubeHealth, said, "We're transforming healthcare payments in India and seeing massive growth despite being focused on the B2B-2C channel. Employees are actively adding family members and paying for healthcare regularly, offering us rich insights into out-of-pocket healthcare spending in India."
Founded in 2019 by Chris George and Gagan Kapur, QubeHealth is revolutionising healthcare payments in India. Its platform integrates payments infrastructure, interest-free healthcare financing, health insurance, and access to healthcare providers into a unified app, "QubePay."
Designed primarily for employees of Indian enterprises, QubePay empowers users to pay any healthcare provider—hospitals, clinics, pharmacies, and more—without restrictions on networks or family members, making healthcare payments more flexible and accessible.
QubeHealth's user base is largely the employees from top Indian companies like Flipkart and Tata Teleservices, who benefit from QubePay's seamless payment and instant discount cashback features. The app also provides instant medical financing options when health insurance coverage is inadequate, reducing the financial burden of uncovered medical expenses.
Bhaskar Majumdar, Managing Partner at Unicorn India Ventures, highlighted Qube's unique integration of fintech and health-tech solutions, addressing a significant need in India's healthcare payments landscape. "Medical bills not covered by insurance are a substantial financial stressor. Qube's growth and product-market fit have shown promising results, and we believe Chris's understanding of the market will enable faster growth," he said.
Sanjeev Kumar Shrivastava, Managing Director, Canbank Venture Capital Fund Ltd, added, "We have been an active investor and funded companies in various sectors and at various stages. Qube Health is changing how India pays for healthcare, and they have successfully built a streamlined healthcare payments ecosystem with a mission to expand access to healthcare."
Growing over 400% this year and expected to process more than INR 100 crore in healthcare payments by year-end, QubeHealth is positioned to redefine how Indians manage healthcare expenses, making it easier and more efficient for families across the country.
