Ashneer Grover, the co-founder of BharatPe and former managing director, is embarking on a new journey in the fintech space with the launch of ZeroPe, an innovative app designed to revolutionize medical loans. Developed by Third Unicorn and currently in its testing phase, ZeroPe aims to provide instant pre-approved medical loans of up to Rs 500,000 in collaboration with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. This move underscores Grover’s commitment to leveraging technology to address critical healthcare financing needs in India.
The ZeroPe app represents a significant step towards democratizing access to healthcare financing, particularly for individuals facing urgent medical expenses. By offering instant pre-approved loans, ZeroPe aims to alleviate the financial burden associated with medical emergencies and elective treatments. Partnered hospitals will exclusively provide this service, ensuring seamless access to medical loans for patients in need.
Grover’s foray into medical loans through ZeroPe reflects a broader trend in India’s fintech landscape, where startups leverage technology to disrupt traditional financial services. With businesses like SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health already offering instant financing solutions for medical bills, ZeroPe enters a competitive market poised for exponential growth.
In January 2023, Grover, along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri, founded Third Unicorn, a platform dedicated to fostering innovation in the digital space. Third Unicorn’s initial venture, CrickPe, aimed to compete with industry giants like Dream11 and Mobile Premier League (MPL). With the success of CrickPe and now the launch of ZeroPe, Third Unicorn is positioning itself as a catalyst for transformative change in India’s digital ecosystem.
The digital healthcare market in India is experiencing unprecedented growth, driven by factors such as increased smartphone penetration, rising healthcare awareness, and evolving regulatory frameworks. Startups offering data-driven medical loans, like ZeroPe, are well-positioned to capitalize on this trend. A joint report by Boston Consulting Group and B Capital projects India’s digital healthcare market to generate $37 billion in revenue by 2030, with healthcare financing contributing $5 billion to this figure.
As Ashneer Grover ventures into the realm of medical loans with ZeroPe, he is expanding his fintech portfolio and pioneering a transformative approach to healthcare financing in India. With its innovative solutions and strategic partnerships, ZeroPe aims to empower individuals to access quality healthcare without financial constraints, ultimately contributing to the nation’s journey towards equitable and inclusive healthcare for all.