How Much Did Affordplan Raise? Funding & Key Investors

Affordplan has successfully navigated three funding rounds, securing investments from six notable investors, including Prime Venture Partners and Omidyar Network India. The platform is designed to help doctors and patients co-design payment plans for non-emergency healthcare services.

Keep reading to explore the intricacies of Affordplan's fundraising journey and the investors backing this innovative platform.

What Is Affordplan?

Affordplan is a private company based in New Delhi, India, specializing in Financial Services, FinTech, Health Care, and Hospitality. The platform enables doctors and patients to co-design payment plans for non-emergency healthcare services.

Founded in an unspecified year, Affordplan employs between 101-250 people. The company has successfully raised funds through three rounds, with the latest being a Series B round.

How Much Funding Has Affordplan Raised?

1. Seed Round
   • Amount Raised: $500,000
   • Date: May 2016
   • Lead Investors: Kalaari Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To kickstart the company’s operations and development through Kalaari Capital’s accelerator program.
2. Series A Round
   • Amount Raised: $3,000,000
   • Date: November 2016
   • Lead Investors: Prime Venture Partners, Kalaari Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support the initial growth and development of the company’s financial services in healthcare.
3. Series B Round
   • Amount Raised: $10,000,000
   • Date: April 2018
   • Lead Investors: Lok Capital, Omidyar Network
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale up geographically, launch new savings, lending, and insurance products, and expand the employee base.

Affordplan has raised a total of $13,500,000 in funding. The current valuation is not publicly disclosed.

Key Investors

• Lok Capital
  • Details: Lok Capital is a venture capital firm focused on investing in companies that provide financial inclusion, healthcare, and agriculture solutions in India. They led Affordplan's Series B funding round.
  • Investment Focus Areas: Financial inclusion, healthcare, agriculture
  • Notable Investments: Ujjivan Financial Services, Drishti Eye Care, Varthana
• Omidyar Network
  • Details: Omidyar Network is a philanthropic investment firm established by eBay founder Pierre Omidyar, focusing on social impact investments. They participated in Affordplan's Series B funding round.
  • Investment Focus Areas: Social impact, financial inclusion, digital identity, education
  • Notable Investments: d.light, Bridge International Academies, Lenddo
• Prime Venture Partners
  • Details: Prime Venture Partners is an early-stage venture capital firm that invests in technology and product-focused companies. They have participated in multiple funding rounds for Affordplan.
  • Investment Focus Areas: Technology, fintech, SaaS, healthcare
  • Notable Investments: MyGate, Happay, KredX
• Kalaari Capital
  • Details: Kalaari Capital is a venture capital firm that invests in early-stage technology-oriented companies in India. They have been involved in multiple funding rounds for Affordplan.
  • Investment Focus Areas: Early-stage technology, e-commerce, fintech, healthcare
  • Notable Investments: Dream11, Cure.fit, Urban Ladder

What's Next for Affordplan?

Affordplan is poised to capitalize on significant opportunities in the healthcare fintech sector. With plans to expand geographically and introduce new savings, lending, and insurance products, the company aims to build a comprehensive suite of financial services for healthcare. This expansion is supported by their existing partnerships with over 300 hospitals and a growing customer base of more than 100,000 patients.

Future fundraising opportunities appear promising as Affordplan continues to scale and demonstrate market penetration. The company may attract additional investments to support its ambitious growth plans, including expanding its employee base and enhancing its distribution network. However, challenges such as navigating regulatory requirements and facing competition from other fintech startups could pose hurdles along the way.

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