Cross-border health benefits and travel startup Hospals has raised $3.5 million in Pre-Series A led by Inflection Point Ventures, 9Unicorns and Singapore-based Wavemaker among others, where investors including Kunal Shah and Sanjeev Mishra also participated along with existing investor Venture Catalysts. The startup will now deploy funds towards expanding geographically in line with its aim to reach 1.5 million subscribers and patients and realize a GMV of $900 million.
Founded in 2018 by Danish Ahmed, Hospals offers medical services to patients with its international network of doctors, medical care practitioners and hospitals. Using its health benefits membership, subscribers from Africa and Asia get unlimited teleconsults and free surgical treatments worth up to $15k.
It claims to have served over 22,000 patients from 38 countries, helping them access medical advice, teleconsults and surgical treatments through its network of hundreds of hospitals.
“Healthcare expenses which include treatment costs and travelling expenditure can be daunting for a family. Having a guided advisory from companies like Hospals can ease the stress as their model connects you with the best doctors and surgeons in their respective disciplines. They also provide translation & residential assistance close to the hospitals,” said Vinay Bansal, founder and CEO of Inflection Point Ventures
“India is one of the largest and fastest-growing markets for medical tourism on the back of affordability and accessibility of high-quality healthcare treatments. Hospals has reinvented itself to cater to the rising demand from this sector by facilitating end to end services including providing medical loans to the patients,” said Apoorva Ranjan Sharma, cofounder of 9Unicorns and Venture Catalysts.