Ashneer Grover launches new medical loan app named ZeroPe
What's the story
Ashneer Grover, co-founder and former Managing Director of BharatPe, is venturing back into the fintech sector with a new application called ZeroPe.
Currently in its testing phase, the app aims to provide instant pre-approved medical loans of up to ₹5 lakh.
ZeroPe is a product of Third Unicorn, a venture that Grover initiated after his exit from BharatPe.
Project
Third Unicorn: Grover's post-BharatPe venture
Grover established Third Unicorn in January last year, alongside his wife Madhuri Jain Grover, and Chandigarh-based businessman Aseem Ghavri.
Their first project was CrickPe, a fantasy gaming platform designed to compete with Dream11, Games24x7's My11 Circle, and Mobile Premier League (MPL).
The start-up raised $3.5 million in seed funding from ZNL Growth Fund, Vevek Ventures Investments, and Rishaayu LLP.
Partnership
ZeroPe partners with Mukut Finvest
ZeroPe has partnered with Mukut Finvest, a Delhi-based non-banking financial company (NBFC), to offer its medical loan services.
These services are only available at hospitals associated with ZeroPe, as listed on the app's website.
The launch of ZeroPe aligns with the growing trend of businesses, providing immediate financing solutions for medical expenses and elective procedures.
Market forecast
Digital healthcare market in India
The digital healthcare market in India is projected to generate $37 billion in revenue by 2030, according to a report by Boston Consulting Group and B Capital.
The healthcare financing sector, which ZeroPe has entered, is expected to contribute $5 billion to this total.
This trend reflects the increasing number of start-ups offering data-driven medical loans for various healthcare needs including hospitalization, home care, and chronic care management.