Mumbai-based healthcare payments innovator QubeHealth has secured an undisclosed Pre-Series A investment led by Unicorn India Ventures and CanBank Venture Capital Fund’s “Empower India Fund.” This funding round positions the company for its upcoming Series-A, targeted to raise $9 million and estimated to value QubeHealth at Rs. 270 crore.

The fresh funds are set to fuel technological advancements and feature launches, including embedded insurance, a generative AI-driven recommendation engine, and a comprehensive healthcare marketplace. These upgrades will enhance QubeHealth’s mission of transforming how Indians handle out-of-pocket healthcare expenses.

Scaling Solutions for Healthcare Financing

Chris George, Co-Founder and CEO of QubeHealth, expressed his excitement over the investment and the potential it unlocks for future growth. "It’s our privilege to gain the support of reputed investors like CanBank VC and Unicorn India Ventures as we change how India pays for healthcare," George said. "Our app is already enabling employees of corporate clients to streamline healthcare payments, even covering family members. This has given us unparalleled insights into the financial burden of healthcare in India. We look forward to leveraging this investment to continue our journey toward Series-A funding."

QubeHealth’s app, QubePay, provides users with a seamless platform for managing healthcare expenses by enabling payments at hospitals, clinics, pharmacies, and other medical providers. The platform offers instant cash-back discounts and access to medical financing options for uninsured bills. Currently, QubeHealth services employees from over 300 Indian corporations, including Flipkart and Tata-Teleservices, who rely on the app for flexible healthcare payments.

Supporting a Vision of Financially Accessible Healthcare

Bhaskar Majumdar, Managing Partner of Unicorn India Ventures, highlighted QubeHealth's role in bridging fintech and health-tech. “At UIV, we’re active in fintech and health-tech investments, and Qube’s integration of healthcare financing is a game-changer for families facing healthcare costs that insurance doesn’t cover. Their product-market fit is impressive, and we are confident that our partnership will accelerate their growth as they prepare for Series-A.”

QubeHealth is on track to process over Rs. 100 crore in healthcare payments by the end of this fiscal year, a reflection of the platform’s rapid growth. CanBank VC's Managing Director, Sanjeev Kumar Shrivastava, emphasized QubeHealth’s mission-driven approach. "Qube has streamlined healthcare payments, expanding access to essential healthcare services," he said. "We believe Chris and his team are on the path to revolutionize the way healthcare financing works in India.”

The Rising Need for Out-of-Pocket Healthcare Financing in India

India’s healthcare landscape reveals a significant gap in financial coverage for medical expenses. Indians pay over $50 billion annually in out-of-pocket healthcare costs, with a substantial portion of these payments falling outside of insurance coverage. As the nation rapidly transitions to digital payments through UPI and other technologies, platforms like QubeHealth-Pay are at the forefront of offering secure, efficient payment solutions for medical expenses.