Qube Health
QubeHealth is a Mumbai-based healthcare fintech platform that provides Indian employers a low-cost add-on to group health insurance, giving employees instant no-cost EMI credit lines, cashback rewards, and a RuPay co-branded prepaid card usable at 11,000+ healthcare providers.
- Company typePrivate
- Founded2019
- HeadquartersAndheri, India
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Qube Health does
QubeHealth (legal entity: QB Health Technologies Private Ltd) is a Mumbai-based healthcare fintech company founded in 2019 that operates a B2B2C platform bridging employer-sponsored health insurance and out-of-pocket medical expenses for salaried employees in India. The platform combines a mobile app (Qube App), a RuPay co-branded prepaid card issued by Yes Bank (powered by NPCI infrastructure and built on Falcon's BaaS stack), an embedded healthcare credit line with no-cost EMI repayment up to 24 months, and a network of 11,000+ healthcare providers across India. Employees access the service only through employer enrollment; corporate clients subscribe at less than Rs 2 per employee per day, layered on top of group health insurance, to give staff instant cashback and interest-free credit for medical bills not covered by insurance.
The company generates revenue through four streams: employer subscription fees, healthcare provider affiliation/onboarding fees, transaction interchange on payments routed through the card and app, and facilitation fees from NBFC/bank financing partners (Arogya Finance, Apollo Health) that underwrite employee credit lines. KYC and credit decisioning are digitized through integrations with all four major Indian credit bureaus. QubeHealth carries ISO 27001/27017/27018, SOC 1/2 Type 1, HIPAA, and GDPR/DPDP-aligned certifications, and the platform serves over 700,000 individuals across 200,000+ families via 5,000+ corporate clients, processing Rs 100 crore in healthcare payments in FY2025-26 with a target of Rs 240 crore in FY2026-27 and over $1 billion by FY2029-30.
QubeHealth closed a Series A in June 2026 at a Rs 416 crore ($44 million) valuation led by Unicorn India Ventures, with plans to expand into Middle East and Southeast Asia markets. The company's stated differentiators are no network restrictions (works at any healthcare provider), coverage extending to family/friends/pets, instant no-cost credit, and cashback on every payment — positioning it as a supplemental financing layer to rather than a replacement for traditional health insurance.
Qube Health firmographics
Firmographics- Name
- Qube Health
- Legal name
- QB Health Technologies Private Ltd
- Website
- https://qubehealth.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- QubeHealth is a Mumbai-based healthcare fintech platform that provides Indian employers a low-cost add-on to group health insurance, giving employees instant no-cost EMI credit lines, cashback rewards, and a RuPay co-branded prepaid card usable at 11,000+ healthcare providers.
- Ownership category
- akta.pro rank
Qube Health industry classification
Industry- Product category
- Employee Healthcare Payments & Credit Platform
- NAICS
- Health and Welfare Funds (525120), Credit Card Issuing (52221)
- SIC
- Hospital & Medical Service Plans (6324), Personal Credit Institutions (6141)
- akta.pro primary industry
- Healthcare Payouts (Payers-to-Providers, Patient Refunds) (FSAMAKAK)
- akta.pro secondary industries
- BNPL Card / Virtual Card Programs (FSAKACAC), Small Group Health Insurance (2–50/100) (FSAIAFAD)
Keywords
Where Qube Health is headquartered
LocationHeadquarters
- HQ city
- Andheri
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Qube Health business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Marketing or Sales, Personnel, Infrastructure
Revenue model
- Employer Subscription Fees: Companies pay an annual subscription fee per employee to provide QubeHealth as an employee health benefit. The company states the cost is less than two rupees per day per employee.
- Healthcare Provider Affiliation Fees: Hospitals, clinics, and diagnostic centres pay affiliation/onboarding fees to join the QubeHealth provider network and gain access to corporate employees.
- Transaction Interchange: Merchants/hospitals provide a small margin on packages purchased through the QubeHealth card or app.
- Medical Loan Interest: Financing partners (NBFCs, banks) provide loans to employees; QubeHealth earns a share or facilitation fee from these credit facilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Employer Annual Subscription |
| Subscription | Annual | Healthcare Provider Affiliation |
| Usage-based | Pay-as-you-go | Employee Credit Facility |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Qube Health product offering
Product offeringCore offering
Qube Health operates a B2B2C healthcare payments and credit platform sold to Indian employers as an add-on to group medical insurance. Companies pay an annual subscription of less than Rs 2 per employee per day, and their workforce then receives an instant, interest-free healthcare credit line, no-cost EMI payback options, cashback on every medical payment, and access to a network of 11,000+ healthcare providers across India via the Qube mobile app and a RuPay co-branded prepaid card.
Product overview
QubeHealth operates as a unified healthcare payments ecosystem combining multiple product lines: QubeHealth-Pay serves as the core platform providing mobile-based healthcare bill payments with cashbacks and financing; QubeHealth-Credit/Cash delivers instant healthcare credit lines for out-of-pocket expenses not covered by insurance; the QubeHealth Card (RuPay/Visa co-branded with Yes Bank) enables physical and virtual payments at any healthcare provider; the Qube App serves as the employee interface for account management and UPI QR payments; and the Healthcare Provider Marketplace connects 11,000+ providers to corporate employees. The QubePay Programme augments employer group health insurance with no-cost credit access.
Differentiator
Problem solved
Functional benefit
Products and services
- QubeHealth-Pay
- QubeHealth-Credit / QubeHealth-Cash Healthcare credit line service providing employees instant access to funds for medical expenses not covered by health insurance, with no-cost payback options up to a year.
- QubeHealth Card RuPay co-branded prepaid health card issued by Yes Bank, enabling payments at any healthcare facility or pharmacy in India with up to Rs 10 lakh limit and interest-free EMI repayment over 24 months.
- Healthcare Provider Marketplace Network of 11,000+ hospitals, clinics, diagnostic centres, and pharmacies across India where QubeHealth users can pay for services; healthcare providers join through a partnership process to access corporate-employee patients.
Quantifiable outcome
- Rs 100 crore in healthcare payments processed in FY2025-26
- +3 more outcomes
Companies that use Qube Health
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles3 records
Qube Health technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration10 records
AI capability1 record
Feature6 records
Qube Health partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- NPCI (National Payments Corporation of India)coreStrategic partnership to launch RuPay powered health card for employed Indians. NPCI facilitates the payment infrastructure enabling QubeHealth's co-branded prepaid card.
- FalconcoreFull-stack BaaS platform provider enabling QubeHealth to embed healthcare wallet and RuPay co-branded prepaid card functionality.
- Yes BankcoreIssuing bank for QubeHealth-Yes Bank co-branded prepaid card. Yes Bank Limited is the registered bank sponsor for the card program.
Scale indicators16 records
Recent moves6 records
Expansion highlights5 records
Qube Health competitors and assessment
Company assessmentDirect peers
- ekincare: Indian employee health benefits and wellness platform serving corporate HR departments with insurance, telehealth, and wellness programs. Directly comparable B2B2C model targeting the same employer-customer segment as QubeHealth, with overlap in the 'add-on to group health insurance' positioning.
- Plum: Indian group health, group life, and accident insurance platform for employers. Targets the same HR/benefits buyer as QubeHealth with a B2B2C distribution model, and competes head-to-head for the supplemental benefits wallet share.
- Onsurity: India-based group health insurance and employee benefits platform focused on SMEs and startups. Competes in the same B2B2C employer benefits space, with comparable pricing-driven approach to the 'missing middle' segment QubeHealth targets.
- Pazcare: Indian employee health benefits and insurance platform for corporates. Direct competitor in the employer-sponsored health benefits distribution channel with similar HR-facing go-to-market motion.
- Loop Health: India-based group health insurance plus primary care platform for employers. Overlaps with QubeHealth in employer-distributed health benefits and offers a similar value proposition of augmenting standard group health insurance with additional services.
Broad incumbents
- Practo: India's largest digital health platform offering consultations, booking, medicine delivery, and integrated insurance/payment features. Operates broadly across consumer healthcare rather than specializing in employer-distributed healthcare credit, making it an incumbent with partial overlap rather than a head-to-head competitor.
- Bajaj Finserv Health: Healthcare financing arm of Bajaj Finserv offering healthcare EMI, wellness cards, and hospital financing products. Competes in the same healthcare credit/payment space but as part of a much larger financial services conglomerate with broader distribution and balance sheet.
- Tata 1mg: India's leading digital health platform for pharmacy, diagnostics, and consultations, with integrated payment and insurance options. Broader incumbent in consumer healthcare with tangential overlap to QubeHealth's payment and credit capabilities.
Emerging players
- mPokket: India-based instant personal credit provider for salaried employees and students, often used for medical and emergency expenses. Competes for the same salaried user wallet for healthcare-related credit, though distributed direct-to-consumer rather than via employers.
- LazyPay: India-based BNPL provider owned by PayU, offering 'Pay Later' credit lines for online and offline purchases. Adjacent fintech with similar 'instant credit at checkout' mechanics that could expand into healthcare-specific use cases competing with QubeHealth's core product.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Qube Health social profiles
Digital presenceQube Health compliance and trust
Trust signalCompliance7 records
Qube Health financial estimates
Financial estimateRevenue estimate
Valuation estimate
Qube Health leadership team
Management profileNumber of profiles
Profiles2 records
Qube Health funding detail
Funding detailFunding overview
Funding rounds5 records
Investors13 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Qube Health M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Qube Health
What does Qube Health do?
Qube Health operates a B2B2C healthcare payments and credit platform sold to Indian employers as an add-on to group medical insurance. Companies pay an annual subscription of less than Rs 2 per employee per day, and their workforce then receives an instant, interest-free healthcare credit line, no-cost EMI payback options, cashback on every medical payment, and access to a network of 11,000+ healthcare providers across India via the Qube mobile app and a RuPay co-branded prepaid card.
Is Qube Health a public or private company?
Qube Health is a private company. It is classified as venture growth investor backed and is currently operating.
When was Qube Health founded?
Qube Health was founded in 2019. It employs 51 to 100 people.
Where is Qube Health based?
Qube Health is headquartered in Andheri, India, in the Asia region.
How does Qube Health make money?
Four revenue lines are on record. Employer Subscription Fees are the primary driver. The others are healthcare Provider Affiliation Fees, transaction Interchange and medical Loan Interest.
Who are Qube Health's main competitors?
Direct peers on record are ekincare, Plum, Onsurity, Pazcare and Loop Health. Broad incumbents are Practo, Bajaj Finserv Health and Tata 1mg. Emerging players are mPokket and LazyPay.
Does Qube Health have an API?
No public API is recorded for Qube Health.
What industry is Qube Health in?
Qube Health's product category is Employee Healthcare Payments & Credit Platform. Its primary akta.pro industry code is FSAMAKAK, Healthcare Payouts (Payers-to-Providers, Patient Refunds), with a secondary code of FSAKACAC, BNPL Card / Virtual Card Programs. Its NAICS code is 525120 and its SIC code is 6324.