Tejbir Singh and Hemal Bhatt started Affordplan in October of 2015.
The India-based Affordplan allows for planned savings for non-emergency treatments. Patients and hospitals can design flexible payment plans based on patients individual need and cash flow through Affordplan. The payments can be made daily, weekly or monthly basis via online payments, depositing money at the hospital or through cash pickup services.
Consumers can also receive medical bills and diagnostic services when using Affordplan. Affordplan does not charge patients interest. Instead, they charge hospitals a variable fee dependent on the procedures. They also collect fees charged to the hospital when collecting money for them.
In May of 2016, Affordplan received $500,000 investment from Kalaari Capital.
Affordplan raised $3 million in November 2016. The round was led by Prime Venture Partners with participation from Kalaari Capital.
Affordplan raised Rs 55.8 crore in April 2018. Lok Capital and Omidyar Network led the round which saw participation from Prime Venture Partners and Kalaari Capital.
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