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ClaimBuddy Raises $5 Million in Series A Funding by BIF

Health insurance claim assistance platform ClaimBuddy has secured a $5 million investment in its Series A funding round, successfully closing the deal. Bharat Innovation Fund (BIF) led the funding round, joined by Japanese fund CAC Capital, as well as existing investors Chiratae Ventures and Rebright Partners.

The Gurugram-based startup intends to utilize the funds to enhance its technology, expand its workforce and sales network, and introduce new product lines to serve its expanding network of hospitals.

Established in 2020 by Rajpurohit and Ajit Patel, ClaimBuddy seeks to revolutionize the healthcare financing sector by tackling the challenges encountered by patients and hospitals in the health insurance claim process.

Ajit Patel holds an MBA from the Indian Institute of Business Management and Studies, along with over a decade of expertise in the insurance sector.

ClaimBuddy reports having processed claims for more than 35,000 patients, totaling over Rs 500 crore, since its inception. Additionally, it has forged partnerships with over 250 hospitals across India.