HomeFunding AlertSaveIN Raises $ 1Mn From Pioneer Fund

SaveIN Raises $ 1Mn From Pioneer Fund

Credit-focused fintech startup SaveIN on Monday said it has secured seed funding of $1 million (around Rs 8.2 crore) from its existing investor Pioneer Fund. The latest round takes the Gurugram-based company’s total seed fundraising to $8 million.

It will use the fresh money for product development and scaling up its team and marketing footprint.


SaveIN was set up in 2020 by ex-banker and fintech professional Jitin Bhasin, who teamed up with Gaurav Luthra (Ex-founder Whatsuplife) and Anurag Varma (ex-EY Hong Kong).

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The fintech startup has been working to build a network of healthcare providers, with an aim to offer embedded finance and pay later options at clinics across the country.

It claimed to have onboarded over 2,500 healthcare and wellness centers across 50 cities since the launch of its flagship ‘Care now, Pay later’ product in January this year.

“We will continue to invest in people, product, and distribution, to realize our vision of facilitating hyper-local, quality healthcare with enhanced affordability for one and all,” said Bhasin.

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“While the problem SaveIN is solving has a universal appeal, we have closely observed their execution in the Indian market and couldn’t be more excited to double down on our investment. They have run an extremely efficient business while scaling up rapidly since their launch earlier this year,” said Tiffany Kuo, senior venture partner, Pioneer Fund.

As per an August report by angel platform Connexdoor, fintech startups have raised $3.4 billion in funding as of July 2022 with 191 recorded deals. Out of the total amount raised, 26.7% went into lending tech, 14.6% to enterprise tech, 9.95% to payments tech, 6.81% to insurtech, 21.9% to wealth tech, 7.8% to neobanks, 8.3% to emerging tech, 3.1% to financial inclusion, and 0.52% in marketplaces.

Vishvajeet Kumar Gupta
Vishvajeet Kumar Guptahttps://marketmoney.in/
Vishvajeet Kumar is the Author & Co-Founder of the Marketmoney.in. He has also Appearing his graduation in Cadet Officer from Chennai . He is passionate about Blogging & Little-Bit in Banking.

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