BharatPe co-founder and former managing director Ashneer Grover along with Aseem Ghavri has come up with a new fintech venture app called ZeroPe. It is mainly focused in easing medical bill payments and loan processes. This means the app may simplify financial transactions in the healthcare sector.
ZeroPe is currently learned to be in the testing phase. It has been developed by Delhi-based Third Unicorn, which was founded by Grover, his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri. The company had earlier launched fantasy cricket app called CrickPe.
The app is jointly developed with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest, which is said to be offering immediate pre-approved medical loans of up to INR 5 lakh. However, it is important to take a note here that the service is currently only available at affiliated hospitals.
The medical financing is not new. Several companies are working on the sector and some of these worth naming are SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko and Mykare Health. These provide quick financing options for medical expenses and elective procedures.
The ZeroPe app is also focusing in streamlining the loan process as well as facilitate the healthcare payments. It will be catering to the increasing demand for convenient financial solutions in the medical sector. The initiative could potentially offer relief to individuals facing unexpected medical expenses by providing accessible and efficient financing options.
It is yet to witness how ZeroPe will impact the medical bill payments landscape as well as the financing part in the fintech industry. It is still in testing phase and public launching is awaited.
BharatPe Company Info
Founded: 2018
Headquarters: New Delhi, India
Revenue: ₹1,029 crore (US$130 million) (FY23)
Net income: ₹−941 crore (US$−120 million) (FY23)
Parent Company: Resilient Innovations Private Limited