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Story of building Care.Fi for Indian Healthcare (carefi.in/)
#fintech #b2b #commerce #healthcare #healthtech #supplychain #startup
Care.Fi is working towards creating an ecosystem play: from helping hospitals buy inventory from suppliers to providing them credit
But how are we doing this? In 2 ways:💡
1️⃣ Commerce Platform - Care Cred-Market linkages between Hospitals and Suppliers 🔗
2️⃣ Financing Platform - Invoice Discounting/BNPL to provide liquidity for Inventory Purchasing 💵
But wait✋, what is the problem?
Before Care.Fi, this is how the supply chain of the healthcare sector worked:
➡️Suppliers buy from manufacturers on cash and sell on credit, facing working capital issue
➡️Hospitals buy inventory on credit due to the lack of supply chain financing
Thus, the entire healthcare supply chain works in a localized-offline manner
Why solve for market linkages, is it not connected already❓
➡️Suppliers lack visibility and capability to underwrite new buyers (hospitals)
➡️Hospitals (especially outside metro locations) lack access to large suppliers
With Care.Fi -
Suppliers get upfront payment (invoice discounting)💰, thus they can:
✅Procure more goods from manufacturers📦
✅Increase wallet share with existing hospitals/ collaborate with new hospitals 🏥
Visit carefi.in/ to know more!
And Hospitals get:
✅Extended credit period (BNPL for op-ex buying) 💸
✅1-stop digital payment platform
Utilizing our commerce platform "Aarogya Bazaar":
Hospitals get access to vetted suppliers and suppliers get access to vetted buyers
Why healthcare?
We are disturbed every time when we read that a patient couldn't be saved by a Hospital / Doctor’s clinic in a tier 3 location because of lack of access to the right medicines 😥
Care.Fi is solving this problem by enabling hospitals to buy Pharma and consumables at a click of a button! 🖱️
What's in it for us?
1.8 Million beds * $28K spend per year per bed = $50 bn
We have $50 Billion opportunity right in front of us 🤩
Currently not financed by traditional lenders
What about existing banking solutions?
❌Backward looking approach: Focus on historical financials
❌Complex processes and heavy documentation
❌Same lens for all customers: No structured products for healthcare vertical
We provide:
✅Forward looking approach: Revenue Financing
✅Tech first process: < 3 min for approval
✅Embedded finance: Structured products for Healthcare Vertical
Have a sneak peek in our beta version below👁️
We plan to launch our platform by July 🤩
Let's explore Care.Fi platform:
This is the how the dashboard looks💡
Deep ERP integration and upload invoices with a click
Current traction:
✅We have onboarded 45 hospitals
✅Disbursed growth capital of INR 16 Cr+
✅Zero NPA
What's in store? In the next 24 months:
➡️We plan to onboard 1k+ hospitals
➡️Disburse growth capital INR 1000 Cr
Thank you for reading. Do let us know if there are any suggestions/feedback.
Intrigued by what we are doing? We would love to hear from you, reach out to me at sidak.singh@carefi.in