Digital lending platform LoanTap on Wednesday said it has acquired Unofin, a healthcare-focused fintech startup, for an undisclosed sum.
With this acquisition, LoanTap aims to leverage Unofin's expertise in healthcare financing to expand its reach in the rapidly-growing healthcare sector in the country.
Unofin has serviced over 12,000 customers with Rs 120 crore of gross loan disbursals so far.
It has partnership with 1,600 healthcare service providers in seven cities, 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.
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The acquisition will also enable LoanTap to leverage Unofin's strong relationships with leading hospitals, clinics, and medical equipment suppliers to offer customised financing solutions to these entities.
"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.
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India's healthcare market is estimated to be worth $130-140 billion, with more than $64 billion in the in-patient market.
