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LetsMD, raises $ 1 mn in pre-series A funding from slew of investors

(Rptg, correcting Para 3 )
Hyderabad, Apr 11 (UNI) LetsMD, the New Delhi-based healthcare fintech start-up, has successfully raised $ 1 million in Pre-Series A funding from a slew of investors led by SRI Capital to scale up its pan-India operations.
Exisiting Investor Waterbridge Ventures along with Thinkuvate, also participated in the just closed round.
"With private insurance penetration pegged at less than 10 per cent and healthcare inflation growing at more than 15 per cent, financing Out of Pocket (OoP) expenses will be healthcare's most important challenge in the next decade, Mr Nivesh Khandelwal, Founder and CEO of LetsMD, said in a release here on Wednesday.
LetsMD aims to create a viable option for financing OoP expenses through its low interest patient financing and health savings account options", he said.
Moving people from informal and often predatory lending to low, or even zero, interest options is exactly what Indian consumers need”, Mr Khandelwal added.
"We are excited about the team and the space that LetsMD is operating in, patient and medical financing is a massive opportunity and the avenues that tech and data bring can revolutionise the ecosystem, we look forward to working with the team on the next stage of this journey." said Ravi Kaushik, Waterbridge Ventures the existing investors in the company who participated in this round.
UNI KNR CS1310/1810
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