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Indian fintech DigiSparsh secures funding from US-based based GoAhead Ventures Investments

Indian fintech DigiSparsh secures funding from US-based based GoAhead Ventures

India Blooms News Service | @indiablooms | 23 Jun 2021, 10:39 am

Kolkata/IBNS: DigiSparsh, an Indian fintech catering to healthcare lending, has secured a seed round from Silicon Valley based investor GoAhead Ventures.

Co-founded by Saurabh Soni and Akhilesh Gandhi in May 2020, DigiSparsh offers lending solutions including insurance receivable financing, supplier financing and patient financing to the entire value chain of the healthcare ecosystem.

They have already tied up with seven aggregators, onboarded 14 hospitals, have funded loans to patients, pharmacies and healthcare merchants in more than 50 locations across the country, the company said.

Soni said, “With this funding, we plan to strengthen our team and also widen our reach - targeting to tie up with 50 aggregators, on-board 100 hospitals by the end of this year and 500 hospitals by the end of the next year.”

According to Gandhi, the company has built products that are easily integrable with hospitals’ core systems or with our aggregator's platform.

"This platform is built on micro services and blockchain to easily on-board borrowers at the front end and lending partners at the back end,” he said.

Prior to embarking on their entrepreneurial journey, Soni has worked with groups like GE, Tata Teleservices, Idea Cellular and was also the CEO of Essel Finance Digital Business while Gandhi has worked with companies like Tech Mahindra, Sandisk and Federal Bank of San Francisco.

Phil Brady, Managing Partner of the investing firm GoAhead Ventures, said “The DigiSparsh approach to healthcare financing really impressed us here at GoAhead. We are excited to be a part of this journey and cater to the 135 billion USD healthcare market in India through highly innovative products which DigiSparsh offers for the entire value chain of the healthcare ecosystem.”

GoAhead Ventures is a Silicon Valley based venture capital firm founded by three Stanford alumni with over 100 million USD in asets under management.

GoAhead focuses on investments into early-stage technology companies around the globe, deploying roughly half of its capital outside of the US into geographies including India, Singapore, Israel, etc.