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BharatX Acquires Zenifi to Expand into Medical Lending Market


BNPL FinTech startup BharatX has acquired Zenifi, a healthcare finance company specializing in zero-cost and low-cost EMI solutions. This acquisition will allow BharatX, which offers credit as a service, to extend its reach into medical lending.

As part of the acquisition, Zenifi’s Co-founder and CEO, Padam Kataria, will join BharatX as the Head of Business – Healthcare. Leveraging his experience from Navi and Zenifi, Kataria will focus on building BharatX’s healthcare lending vertical.

Founded in 2023 by Padam Kataria, Harshit Shrivastava, and Rajendra Kulkarni, Zenifi quickly gained traction in the healthcare sector by offering affordable payment options and establishing partnerships with hospitals and aggregators. Zenifi’s solutions have generated an annual demand rate of over Rs. 1.2 crore.

BharatX has had a longstanding partnership with Zenifi, initially providing a lending platform to extend credit. By integrating Zenifi into its operations, BharatX aims to enhance its existing platform and achieve better economics, positioning itself to disrupt the healthcare sector, which has a significant need for credit solutions.

Mehul Jindal, Co-founder and CEO of BharatX, highlighted the challenges faced by the Indian healthcare sector in financing medical services, especially during emergencies. He noted that the acquisition would enable BharatX to offer instant credit disbursement, a critical need in emergency healthcare.

Padam Kataria expressed enthusiasm about the merger, emphasizing that the combined expertise of Zenifi and BharatX would accelerate market capture and provide easy credit solutions to millions of Indians who currently struggle with out-of-pocket medical expenses.

BharatX, which supports financing for over 125 brands, has experienced rapid growth, expanding 33 times in the past five quarters and raising over $4.7 million. The company has disbursed credit to more than 200,000 users, addressing a crucial gap left by traditional lending institutions. Recent partnerships with Cashfree and brands like Flo mattress, Snitch, and Mokobara further demonstrate BharatX’s commitment to growth and innovation in the credit market.

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