Ashneer Grover gears up for fintech arena reentry with medical loan app

BharatPe co-founder and former managing director Ashneer Grover is gearing up for a new venture in the fintech space with ZeroPe, an app designed for medical loans, according to a report from Moneycontrol.

The ZeroPe app is set to provide instant pre-approved medical loans of up to Rs 5 lakh in collaboration with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. The service is exclusively available at partnered hospitals, as mentioned on the ZeroPe app website.

Grover's entry into this arena adds to a growing trend, with several players like SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health already offering instant financing solutions for medical bills and elective treatments.

The app is currently in its testing phase and has been developed by Third Unicorn, according to its Google Playstore listing, the Moneycontrol report stated. 

In January 2023, Grover, along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri, launched Third Unicorn. It started out with CrickPe to compete with rivals such as Dream11, Mobile Premier League (MPL), and Games24x7's My11 Circle.

The company raised $3.5 million in a seed funding round led by ZNL Growth Fund, with participation from Vevek Ventures Investments and Rishaayu LLP.

India’s digital healthcare market could generate $37 billion in revenue by 2030, a joint report by consulting firm Boston Consulting Group and Singapore-based venture capital firm B Capital has said. Of this, healthcare financing alone is estimated to reach $5 billion.