What CarePay does

CarePay, legally Carecoin Technologies Private Limited, is an India-based fintech founded in 2022 that builds AI infrastructure for healthcare payments and access, with its headquarters in Gurugram and an 11–50 person team. The platform addresses three distinct customer segments simultaneously — patients seeking affordable elective-care financing, clinics and day-care hospitals needing payment collection and reconciliation, and lenders/NBFCs and insurers requiring healthcare-specific credit decisioning — by stitching together six integrated products: Careena AI (a conversational patient-onboarding and KYC agent), Oculon (an alternative-data-aware credit and risk engine with a rules studio), Pay-in-Parts (zero-cost EMI and non-EMI split-pay with a stated 59-second TAT), Instant Care Checkout, Reconcile (automated payouts and procedure-tied ledgers), and HopeGuard (insurance add-ons including an IVF pilot). CarePay claims to serve 2,000+ clinics, with named relationships across dermatology, dental, wellness, and general care, and integrates with HDFC and ICICI for lending and with Juspay, PayU, and Razorpay for payment processing.

CarePay operates three distinct revenue streams: transaction fees on healthcare payments and EMI/split-pay processing, subscription or recurring revenue from lenders using the Oculon risk engine, and commissions on HopeGuard insurance add-ons. Pricing is not publicly disclosed and is structured around quote-based arrangements with lending partners and clinics. Go-to-market is enterprise field sales combined with a partner network — the website serves as a demo-request funnel while lending and payment partners drive mid-funnel referrals. The platform is held out as compliant with ISO 27001, SOC 2 (audits underway), PCI-DSS, RBI, and GDPR standards.

The company sits within the broader CarePay Group, which also operates the M-TIBA health-tech platform in Kenya; M-TIBA suffered a major data breach in October 2025 affecting 4.8 million users, and CarePay Group announced leadership changes in March 2026 appointing Moses G. Kuria as Acting Group CEO and Irene Nafula as Acting Managing Director of M-TIBA Kenya. To date, CarePay India has disclosed a single $1.4M seed round from August 2023 and no revenue figures; the platform's growth is evidenced by clinic count and partner breadth rather than disclosed financial metrics.

Name

CarePay

Legal name

Carecoin Technologies Private Limited

Website

https://carepay.money

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

CarePay builds AI-powered healthcare payment infrastructure for India, serving patients, clinics, and lenders/NBFCs through conversational onboarding, alternative-data credit scoring, EMI/split-pay checkout, automated reconciliation, and bundled insurance add-ons.

Ownership category

akta.pro rank

Product category

Healthcare Payments & Patient Financing Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Patient Financial Engagement (Estimates, Billing Presentment, Payments) (HLACAEAI)

akta.pro secondary industry

Payer-Provider Data Exchange (X12, prior auth, claims/clinical attachment) (HLACABAK)

Keywords

• Healthcare payment infrastructure
• Patient financing platform
• Medical EMI solutions
• Healthcare credit risk engine
• Clinic checkout platform

Headquarters

HQ city

Gurugram

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations

Revenue model

1. Payment Processing & EMI Services: CarePay generates revenue through payment processing fees on healthcare transactions, EMI (Equated Monthly Installment) facilitation fees, and split-pay transaction fees. The platform enables clinics to offer affordable payment options to patients while earning processing fees.
2. Credit/Risk Scoring Services: Revenue generated from providing credit risk assessment services to lenders and NBFCs using the Oculon risk engine. Lenders pay for access to alternative-data-aware credit decisions.
3. Insurance Add-on Products: HopeGuard insurance add-ons provide additional revenue streams through partnerships with insurance providers for elective care coverage.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

CarePay is an AI infrastructure platform for elective healthcare payments and access. It enables clinics, day-care hospitals, lenders/NBFCs, and insurers to onboard patients via Careena AI, run alternative-data credit decisioning through Oculon, offer zero-cost EMI and split-pay options via Pay-in-Parts, complete checkout through an embedded chat flow, settle and reconcile transactions with Reconcile, and bundle insurance add-ons through HopeGuard. The platform unifies these capabilities through a lender marketplace that surfaces real-time offers at the point of care.

Product overview

CarePay is an AI infrastructure platform for healthcare payments and access, offering a unified platform-plus-modules architecture. The portfolio consists of six integrated products: Careena AI (patient onboarding and KYC agent), Oculon (credit/risk engine), Pay-in-Parts (EMI and split-pay solution), Instant Care Checkout (chat-based checkout), Reconcile (automated reconciliation), and HopeGuard (insurance add-ons), all unified through a lender marketplace. The platform enables instant patient onboarding, explainable credit decisions, and reconciliation at the point of care, with the core workflow moving from AI-powered patient intake through risk assessment and lender matching to payment processing and settlement.

Differentiator

Problem solved

Functional benefit

Products and services

• Careena AI AI-powered patient-first assistant that collects documents, validates information, and completes loan origination system (LOS) and lending management system (LMS) processes through a conversational chat interface. Used by clinics and lenders to onboard and KYC patients during healthcare financing.
• Oculon Alternative-data-aware credit and risk engine with a rules studio that performs healthcare-specific credit scoring, risk assessment, and instant lending offers, balancing approval speed with safety. Sold to lenders and NBFCs to support medical-loan underwriting.
• Pay-in-Parts Zero-cost EMI and non-EMI split-pay payment solution offering Paylink, QR code, or embedded POS options with a 59-second turnaround time, enabling patients to break healthcare bills into installments at the point of care.
• Instant Care Checkout End-to-end chat checkout solution integrated within Careena that provides seamless payment integration for healthcare procedures, combining conversational onboarding with payment completion.
• HopeGuard Insurance add-on product offering integrated insurance coverage alongside healthcare financing, including an IVF pilot with a pharma partner featuring a 2-cycle variant.
• Reconcile Automated reconciliation, payouts, and ledger management solution that matches transactions to procedures and healthcare providers, eliminating manual settlement work for clinics and lenders.
• CarePay Marketplace Lender marketplace connecting patients with multiple lenders for real-time risk assessment and instant loan offers across healthcare financing options during the checkout flow.

Quantifiable outcome

• 12-hour average approval time for loan applications
• +3 more outcomes

Named customers12 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Feature7 records

Partnerships

Four partnerships are on record, tiered core.

• JuspaycoreTechnology or IntegrationJuspay is integrated as a payment gateway partner enabling secure payment processing for CarePay's healthcare payment transactions.
• PayUcoreTechnology or IntegrationPayU serves as a payment gateway partner integrated with CarePay for processing healthcare payment transactions.
• RazorpaycoreTechnology or IntegrationRazorpay is integrated as a payment gateway partner enabling payment processing for CarePay's healthcare finance platform.
• M-TIBA (Parent Company)coreStrategic or Co-development PartnerM-TIBA is the flagship health-tech platform under CarePay Group, operating in Kenya. M-TIBA recently achieved ISO/IEC 27001:2022 certification and experienced a significant data breach affecting 4.8 million users in late 2025. CarePay (India) and M-TIBA (Kenya) are sister platforms under the same parent group.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• QubeHealth: Health-tech platform providing credit lines, QR-based payments and claims management for healthcare expenses, with a comparable three-sided model of patients, providers and funders.
• FinBox: Embedded lending infrastructure provider that supplies credit decisioning and loan origination APIs to digital businesses; comparable to CarePay's Oculon engine and lender marketplace APIs.
• MediBuddy: Digital healthcare platform that combines teleconsultations, in-clinic services and corporate health benefits; overlaps with CarePay at the provider payment and corporate benefits layer.
• SaveIN: India-based fintech offering EMI and BNPL specifically for elective healthcare procedures at partner clinics, directly overlapping with CarePay's Pay-in-Parts and clinic marketplace offering.

Broad incumbents

• ZestMoney: Digital EMI/BNPL platform offering point-of-sale financing across categories including healthcare; comparable payment-rail architecture but without healthcare-specialized risk models.
• Bajaj Finserv Health: Healthcare financing arm of Bajaj Finserv offering no-cost EMI cards and health loans via hospital networks; competes in the same elective care checkout flows as CarePay but at much larger scale and balance sheet.
• mPokket: Instant personal lending app serving salaried and student segments; competes indirectly for the same borrower wallet and lender partnerships CarePay accesses.

Emerging players

• Plum: Insurtech offering group health insurance and wellness benefits with embedded payments and claims, adjacent to CarePay's HopeGuard insurance add-on ambitions.
• KarmaLifeAI: Embedded lending platform for underserved workers using alternative data, structurally similar to Oculon's alternative-data credit approach but in a different end market.
• Nova Benefits: Employee health benefits platform integrating insurance, wellness and OPD services; addresses a similar three-sided market of patients, employers and providers as CarePay's clinics-lenders-insurers triangle.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CarePay