Y Combinator backs FinTech Platform SaveIN

SaveIN a credit focused fintech company has recently been backed by silicon valley’s leading technology investor Y Combinator as part of its Winter 22 batch. The Gurgaon based startup is focused on building disruptive products and services in the on-demand credit domain.  The company had raised funding in May and September earlier this year, from leading angel investors from India and abroad.

Founded by ex-Banker and Fintech professional Jitin Bhasin, SaveIN has launchedIndia’s first BNPL product for healthcare, across hundreds of providers in Delhi NCR and is aiming to accelerate its footprint across other major cities of India over the next few months.

Jitin Bhasin, founder and CEO, SaveIN said: “Healthcare has never been more important and we are delighted to introduce India’s first BNPL service in healthcare segment through a deep integrated healthcare finance solution across our vetted and fast-growing partner network. We are truly humbled to be backed by an illustrious set of investors including Y-Combinator and are committed to pursue our stated objective of democratizing credit and facilitating timely care for everyone, no matter the circumstance.”

SaveIN’s healthcare finance solution called Care now, Pay later covers a wide set of daily healthcare procedures including Dental, Optical, Diagnostics, Cosmetic, Physiotherapy and Veterinary through a high-quality partner network facilitating timely care with affordable repayment plans. This presents a $20 bn market, comprising of out patient medical products and services that are typically not covered by insurance.

Buy now, Pay later is the fastest growing phenomenon in consumer credit and is expected to become a $50bn industry in India by 2028. The quest to provide affordability to healthcare has intensified with Covid-19 pandemic which in turn has triggered an explosion in innovation in healthcare driven by fintech solutions. First half of 2021 has seen over $14 bn in VC investments in healthcare based fintech solutions across the globe and healthcare is widely touted to be the next frontier in buy now, pay later domain.