LoanTap, a digital lending platform, announced the acquisition of Unofin, a healthcare-focused fintech startup, for an undisclosed sum.
LoanTap intends to use Unofin's expertise in healthcare financing to expand its reach in the country's rapidly growing healthcare sector.
So far, Unofin has served over 12,000 customers with gross loan disbursals totaling Rs 120 crore.
It has 1,600 healthcare service providers in seven cities as partners, making it a key player in the healthcare financing industry.
"This acquisition is a strategic move for us to expand our product offerings and tap into the immense potential of the healthcare sector. We believe that healthcare financing is a niche segment with tremendous growth potential," said Satyam Kumar, CEO and co-founder of LoanTap.
LoanTap will also be able to leverage Unofin's strong relationships with leading hospitals, clinics, and medical equipment suppliers to provide customised financing solutions to these entities as a result of the acquisition.
"With LoanTap's digital capabilities, we will be able to reach a much larger customer base and provide them with seamless access to credit," said Tushar Aggarwal, Co-founder, and CEO of Unofin.
The Indian healthcare market is estimated to be worth $130-140 billion, with an in-patient market worth more than $64 billion.
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