Mumbai-based QubeHealth, a healthcare payments platform, has secured a pre-series A investment from Unicorn India Ventures and CanBank Venture Capital Fund, a Canara Bank subsidiary, preparing for a $9 million Series A round at a valuation of Rs 270 crore.

With this funding, QubeHealth plans to enhance its technology and introduce new services, such as embedded insurance, an AI-driven recommendation engine, and a healthcare marketplace. QubeHealth CEO Chris George noted that the company has observed significant growth in its B2B2C model, with employees of corporate clients adding family members and frequently using the platform, providing valuable insights into India’s out-of-pocket healthcare expenses.

Through its QubePay app, the company integrates payments, financing, and insurance, offering users medical discounts, flexible financing options, and access to a wide network of healthcare providers. Unicorn India Ventures Managing Partner Bhaskar Majumdar noted that many families face financial burdens due to uncovered medical expenses, adding that QubeHealth’s growth and market fit address this critical need.

Amid India’s $50 billion out-of-pocket healthcare market, QubeHealth has achieved over 400% growth this year and is projected to handle over Rs 100 crore in healthcare payments by the close of the fiscal year, the company shared in a statement.