Fintech startup BharatX acquires Zenifi to enter medical lending market

Y-Combinator-backed BNPL fintech startup, BharatX on Wednesday introduced that it has acquired healthcare finance startup Zenifi to enter the medical lending section.

As a part of the deal, the co-founder and CEO of Zenifi, Padam Kataria, will be a part of BharatX because the Head of Business — Healthcare. He will work on constructing BharatX’s healthcare lending vertical.

“This acquisition will enable BharatX to go deeper into the healthcare vertical the place presently no fintech or conventional gamers are ready to disburse credit score immediately, which is important in emergency healthcare,” Mehul Jindal, Co-founder CEO, BharatX, mentioned in an announcement.

Founded in 2023 by Kataria, Harshit Shrivastava and Rajendra Kulkarni, Zenifi gained traction within the healthcare sector by providing reasonably priced fee choices.

With partnerships established throughout a number of hospitals and aggregators, the corporate generated an annual charge of demand value over Rs 1.2 crore.

“We have firsthand expertise of constructing medical lending simple and accessible and with BharatX’s well-established credit score as a service, the synergies between the 2 corporations will be certain that we will speed up the velocity with which we seize the market,” mentioned Padam Kataria, CEO, Zenifi.

Moreover, the corporate mentioned that this acquisition will enable BharatX to break into the healthcare sector, a sector ripe for disruption and one of many largest sectors needing credit score after its disruptive success in on-line buying credit score options.

(With inputs from IANS)