Mumbai-based healthcare payments platform QubeHealth-Pay has completed its Series A funding round at a valuation of Rs 416 crore (approximately $44 million), marking a significant milestone in the company’s growth journey. The round attracted participation from several investors, including Unicorn India Ventures, IA Growth Opportunities Fund, Brew Opportunities Fund, Finvolve Ventures, FirstPort Capital, and Maithan Family Office.
While the company confirmed the successful closure of the funding round, it did not disclose the amount raised.
Fresh Capital to Accelerate Growth Plans
The newly secured capital will be directed toward strengthening QubeHealth-Pay’s technology platform and expanding its healthcare payments ecosystem. The company also plans to use the funds to support its international expansion strategy, with a focus on entering markets in the Middle East and Southeast Asia.
The funding comes after the company’s pre-Series A round in November last year, when it raised capital from Unicorn India Ventures and CanBank Venture Capital Fund.
Building a Dedicated Healthcare Payments Network
Founded by Chris George, Co-founder and Group CEO, and Gagan Kapur, Co-founder and Chairman, QubeHealth-Pay operates as a healthcare-focused fintech platform designed to simplify medical payments for consumers.
The platform enables users to make payments for healthcare services across hospitals, clinics, pharmacies, diagnostic centres, and doctors without being limited by network restrictions. In addition to facilitating payments, the platform offers cashback rewards and financing options for medical expenses that may not be covered by insurance policies.
By focusing exclusively on healthcare transactions, the company aims to address payment-related challenges often faced by individuals and families while accessing medical services.
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Expanding User Adoption Across India
According to the company, QubeHealth-Pay currently serves more than 200,000 families and over 700,000 individual users. The platform has witnessed consistent engagement from its user base, with customers reportedly accessing the application an average of 9.3 times per month for healthcare-related transactions.
The growing adoption reflects increasing demand for digital healthcare payment solutions as consumers seek greater flexibility and convenience in managing medical expenses.
Strong Growth in Transaction Volumes
QubeHealth-Pay has also reported notable growth in payment processing volumes. The company processed healthcare payments worth Rs 100 crore during FY26 and expects to cross Rs 240 crore in FY27 based on its current trajectory.
Looking further ahead, the startup has outlined an ambitious long-term target of surpassing $1 billion in payment volume by FY30. The goal underscores its plans to scale operations and deepen its presence within the healthcare payments segment.
Network of Healthcare Providers Continues to Grow
A key component of the company’s business model is its extensive healthcare partner network. QubeHealth-Pay has partnered with more than 15,000 healthcare providers spanning multiple categories, including diagnostics, dental care, eye care, dermatology, and mental health services.
The broad provider base allows users to access and pay for a wide range of healthcare services through a single platform, helping create a more integrated healthcare payments experience.
Serving Large Enterprise Customers
Alongside its consumer-focused offerings, QubeHealth-Pay has built relationships with several corporate clients. Its enterprise customer portfolio includes Walmart India, Flipkart, Tata Teleservices, Equitas Small Finance Bank, and Omnicom Group.
These partnerships highlight the company’s growing presence in the corporate healthcare benefits and payments space, where employers are increasingly exploring digital solutions to support employee healthcare needs.
With fresh funding, an expanding provider network, growing transaction volumes, and plans to enter international markets, QubeHealth-Pay is positioning itself for the next phase of growth in the healthcare payments sector.
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