AffordPlan gets $10 mn in Series B funding from new and existing investors

A bank employee counts U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha

Delhi-based AffordPlan has raised $10 million in Series B funding from new investors – Lok Capital and Omidyar Network – as well as existing investors – Prime Venture Partners and Kalaari Capital. The funds will be used to expand the fintech company’s foot print in India and to diversify the portfolio of financial services products.

AffordPlan aims to make healthcare more accessible and affordable by letting consumers save an amount on a daily, weekly, or monthly basis, to make payments at their convenience. In addition, consumers also receive discounts on medical bills and diagnostic services when they use AffordPlan services, reducing the overall treatment costs .

The company is also planning to launch new savings, lending and insurance products to cover medical and healthcare expenses. It is also looking to hire more than 200 employees across India by the end of 2018 to fuel its expansion plans.

It has partnered with more than 300 hospitals in the country to make non-emergency procedures affordable and claims to have already reached more than 100,000 patients.

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