Ashneer Grover, co-founder and former managing director of BharatPe, is set to make a comeback in the fintech sector with a new app for medical loans, ZeroPe.
ZeroPe, currently in testing mode, is being developed by Third Unicorn, a company founded by Grover after his departure from BharatPe. The app will offer instant pre-approved medical loans of up to Rs 5 lakhs in partnership with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. However, the service can only be availed at partnered hospitals.
Ashneer Grover’s entry into the medical loan sector follows a growing trend of businesses such as SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health, which offer instant financing solutions for medical bills and other elective treatments.
Third Unicorn was launched by Ashneer Grover along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri in January 2023. The company started with CrickPe, a fantasy gaming platform, to compete with rivals such as Dream11, Mobile Premier League (MPL), and Games24x7’s My11Circle. It raised $3.5 million in a seed round led by ZNL Growth Fund, with participation from Vevek Ventures Investments and Rishaayu LLP.
A host of digital-first startups are looking to offer data-driven medical loans for patients across all healthcare needs, including hospitalization, home care, and chronic care management. These startups aim to integrate hospital networks, health insurance providers, and government healthcare schemes.
According to a joint report by consulting firm Boston Consulting Group and Singapore-based venture capital firm B Capital, India’s digital healthcare market could generate $37 billion in revenue by 2030. Of this, healthcare financing alone is estimated to reach $5 billion.
Conclusion
With the launch of ZeroPe, Ashneer Grover is poised to make a significant impact in the fintech sector once again. As the digital healthcare market continues to grow, innovative solutions like ZeroPe are set to play a crucial role in shaping the future of healthcare financing in India.
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