Delhi-based fintech start-up Affordplan has raised Rs 20 crore as part of its Series A funding from venture capital firms Prime Venture Partners and Kalaari Capital. The startup was part of the first incubator batch of KStart (a seed-fund initiative by Kalaari Capital) in early 2016 and had raised Rs 3 crore from it.
The company plans to use the new funds to expand its team and enter new cities.
Founded by Tejbir Singh and Hemal Bhatt in December 2015, Affordplan is a financial product targeted at Indians who earn Rs 2-10 lakh per annum, to give them access and affordability to avail themselves of medical services from small and mid-sized hospitals through planned savings for non-emergency medical services.
