Y-Combinator-backed BNPL Fintech startup, BharatX has acquired Zenifi, a healthcare finance startup providing zero-cost and low-cost EMI solutions. BharatX that provides credit as a service to end users, will be entering the medical lending segment, with this acquisition.
As part of the deal, Padam Kataria, the Co-founder and CEO, Zenifi will join BharatX as the Head of Business – Healthcare. Leveraging his extensive experience in the sector gained during his tenure at Navi and Zenifi, Padam will work on building BharatX’s healthcare lending vertical.
Zenifi, founded in 2023 by Padam Kataria, Harshit Shrivastava, and Rajendra Kulkarni; gained traction in healthcare sector by offering affordable payment options, With partnerships established across multiple hospital and aggregators, Zenifi’s generated an annual rate of demand worth Rs. 1.2cr+.
Mehul Jindal, Co-founder CEO, BharatX says, “Healthcare sector in India faces a significant challenge when it comes to paying for medical services. This becomes a problem especially during emergencies. India continues to spend the largest amount for accessing healthcare through their own pockets, making availing medical facilities an expensive proposition. We have been working with Zenifi that is addressing this problem head-on by providing realistic and affordable solutions. This acquisition will allow BharatX to go deeper into the healthcare vertical where currently no fintech or traditional players are able to disburse credit instantly, which is critical in emergency healthcare.”
Padam Kataria, CEO, Zenifi, says, “Joining forces with BharatX is a good opportunity for Zenifi. We have firsthand experience of making medical lending easy and accessible and with BharatX’s well-established credit as a service, the synergies between the two companies will ensure that we can accelerate the speed with which we capture the market. Our goal is to offer easy credit solutions to millions of Indians who are currently left with no choice but to pay OOP for medical situations.”
BharatX enables financing options for 125+ brands in a white-labled manner. In the past five quarters, it has raised more than $4.7 million till date.
BharatX continues to explore growth opportunities and has recently announced partnerships with Cashfree, alongside existing partnerships with brands such as Flo mattress, Snitch, and Mokobara.
