Company Name:Arogya Finance

Location:Mumbai, Maharashtra

SectorFinance and Healthcare


Arogya Finance Profile

Dheeraj Batra - VP Business Development

Arogya Finance makes quality healthcare more accessible by lending to those who are unable to pay for their healthcare expenses.


Problem: Healthcare insurance penetration in India is abysmally low. Latest statistics put the number at approximately 15%. Of the remaining, only a minority is able to pay out of pocket. The rest have to have to borrow money – often at exorbitant rates exceeding 60% a year, sell their personal assets, or simply go without care. This has contributed to a situation where healthcare expenses have become the #1 reason why families fall below the poverty line – impacting 40 million people a year. 


Solution: We at Arogya Finance believe that everyone in India should be able to afford quality healthcare... and are trying to make that a reality. But instead of trying the same approach that has thus far failed to make an impact, namely selling insurance, Arogya Finance offers patients a loan at the time and place of need.


To enable maximum impact, Arogya Finance has developed a proprietary approach which allows it to evaluate the credit worthiness of and lend to individuals and families who are outside the formal system – those who lack things like formal salary slips, collateral, a credit history, etc.


Impact: Over the last 2.5 years, Arogya has lent almost $700K to over 310 patients, and the results have been phenomenal with a repayment rate of approximately 98%. We are active in 9 states and are working with 50+ hospitals. But we feel we have just started and want to make 100,000 loans in the next 5 years. 


Investment Needed: We are looking to raise Rs 2.5 crore ($500K at a Rs 50/$1 exchange rate and $370k at the current exchange rate of Rs 68/$1.)