Arogya Finance
Arogya Finance is an India-based RBI-registered NBFC that provides medical loans to financially underserved borrowers lacking formal documentation or collateral, distributed via 2,400+ hospital partners and proprietary risk assessment tools.
- Company typePrivate
- Founded1995
- HeadquartersMumbai, India
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Arogya Finance does
Arogya Finance is an Indian NBFC (operating under the legal entity Ramtirth Leasing and Finance Company Pvt. Ltd., RBI Registration No. 13.01234) that provides medical loans to financially underserved borrowers who lack access to formal banking channels. Co-founded by Jose Peter (CEO) and Dheeraj Batra and headquartered in Mumbai, the company targets informal sector borrowers without salary slips, formal credit history, or collateral, using proprietary risk assessment tools developed specifically for this population. Distribution is anchored by a network of 2,400+ hospital partners across 800+ cities in 20+ Indian states, supplemented by 9 Regional Financial Counsellors covering every major Indian region and direct-to-consumer online applications.
The product portfolio comprises four offerings: a Standard Loan for immediate medical emergencies (disbursed directly to hospitals, with tenures up to 4 years and repayment via post-dated checks), a Pre-approved Arogya Card offering up to Rs 5 lakhs of pre-approved credit covering 75% of medical bills at any partner hospital, a specialized Cancer Loan (Oncology) covering up to Rs 25 lakhs at 0% interest in most cases via a digital 5-minute KYC-only application, and an internal Loan Origination System (LOS) web platform supporting end-to-end digital loan workflows. Underlying technology includes the proprietary risk assessment methodology, a digital LOS, and integrations with manufacturer and hospital partner systems enabling direct disbursement and EMI management.
Arogya Finance generates revenue primarily through interest on medical loans, a 2% one-time processing fee, and a Rs 500 documentation charge. A material share of loan volume (cancer, prosthetics, certain ophthalmology and bariatric programs) is offered at 0% interest, with the spread subsidized by manufacturer partners such as Bayer, Roche, Medtronic, Johnson & Johnson, Dr. Reddy's, Ottobock, and Cochlear. The company operates a hybrid go-to-market combining online direct application with hospital-partner-driven acquisition, and relies on Aditya Birla Finance Ltd as a core lending partner to scale disbursement capacity. Customer segments span informal sector borrowers, family members financing dependents, oncology patients, and elective treatment seekers across cardiology, orthopedics, gastroenterology, urology, cosmetic surgery, spine, transplants, fertility, and dental specialties.
Arogya Finance firmographics
Firmographics- Name
- Arogya Finance
- Legal name
- Ramtirth Leasing and Finance Company Pvt. Ltd.
- Website
- https://arogyafinance.com
- Company type
- Private
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Arogya Finance is an India-based RBI-registered NBFC that provides medical loans to financially underserved borrowers lacking formal documentation or collateral, distributed via 2,400+ hospital partners and proprietary risk assessment tools.
- Ownership category
- akta.pro rank
Arogya Finance industry classification
Industry- Product category
- Healthcare Financing
- NAICS
- Credit Intermediation and Related Activities (522)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Medical & Healthcare Personal Loans (Unsecured Installment) (FSAKAAAF)
- akta.pro secondary industries
- Healthcare & Medical POS Financing (FSAKAFAI), Emergency & Short-Term Installment Personal Loans (Unsecured) (FSAKAAAH)
Keywords
Where Arogya Finance is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Arogya Finance business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Medical Loan Interest: Arogya Finance generates revenue through interest charged on medical loans. The company offers loans for various medical treatments with EMI options. Processing fees of 2% and documentation charges of Rs 500 apply. Some loans (e.g., cancer loans, prosthetics) are offered at 0% interest in many cases, suggesting partnerships with hospitals or manufacturers who subsidize or buy down the interest.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Monthly | Standard Medical Loan - Flexible loan amounts for general medical treatments |
| Transaction based/ take rate | Monthly | Pre-approved Arogya Card - Medical loan card up to Rs 5 lakhs |
| Transaction based/ take rate | Monthly | Cancer Loan (Oncology) - Up to Rs 25 lakhs for cancer treatment |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels10 records
Arogya Finance product offering
Product offeringCore offering
Arogya Finance is an NBFC providing medical loans to traditionally un-bankable populations in India who lack formal income documentation or collateral. The company offers Standard Loans for immediate medical emergencies, Pre-approved Arogya Cards for future medical needs, and specialized Cancer Loans up to Rs 25 lakhs, with funds disbursed directly to hospitals across a 2400+ hospital partner network.
Product overview
Arogya Finance is a social healthcare NBFC (brand name of Ramtirth Leasing and Finance Company Pvt. Ltd.) offering medical loans to underserved populations in India who lack access to traditional banking. The product portfolio centers on three core offerings: the Standard Loan for immediate medical emergencies, the Pre-approved Loan (Arogya Card) providing card-based pre-approved credit up to Rs. 5 lakhs for future medical needs, and the specialized Cancer Loan (Oncology) covering cancer treatment costs with loan amounts up to Rs. 25 lakhs at 0% interest. All products are supported by a proprietary Loan Origination System (LOS) platform for digital application processing, and are distributed through a network of 2400+ hospital partners across 800+ cities in 20+ Indian states.
Differentiator
Problem solved
Functional benefit
Brands
- Arogya Card: Pre-approved medical loan card offering medical loans up to Rs 5 lakhs for future medical emergencies.
- Cancer Loan (Oncology)
Products and services
- Standard Loan A medical loan product for immediate medical emergencies covering any type of treatment or surgery. Loan disbursement is made directly to the hospital, with tenures up to 4 years and repayment via post-dated checks or alternate options.
- Pre-approved Arogya Card A pre-approved medical loan card enabling borrowers to access credit up to Rs 5 lakhs for future medical emergencies, covering up to 75% of the medical bill. The card facilitates treatment at any hospital within the partner network without requiring full upfront payment.
- Cancer Loan (Oncology) A specialized medical loan product for cancer treatment covering surgery, immunotherapy, targeted therapy, chemotherapy, genomic testing, and diagnostics. Features 0% interest in most cases, tenure flexibility of 3–36 months, loan amounts up to Rs 25 lakhs covering up to 100% of treatment cost, and a fully digital 5-minute application requiring only KYC documents.
Quantifiable outcome
- 3-hour average loan approval time, can be as fast as 3 hours in emergencies
- +3 more outcomes
Companies that use Arogya Finance
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles2 records
Arogya Finance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Arogya Finance partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core and minor.
- Medtronic DiabetescoreMedtronic Diabetes offers an integrated system combining insulin pumps and Continuous Glucose Monitoring. Arogya Finance provides financing for Medtronic diabetes treatment devices.
- Johnson & JohnsoncoreJ&J has contributed significantly to advancing bariatric surgery and obesity treatment science. Arogya Finance provides financing options for J&J bariatric procedures.
- Dr. Reddy's LaboratoriescoreLeading multinational pharmaceutical company committed to affordable medicines. Partnership provides medical loans for hepatitis C treatment and other Dr. Reddy's therapies.
- BayercoreGerman multinational pharmaceutical company. Partnership includes Eylea Easy Pay Program for diabetic macular oedema and wet AMD treatment financing.
- Ottobockcore90+ years of experience in mobility solutions. Provides hi-tech and affordable artificial limbs. Arogya Finance offers 0% interest loans for prosthetics.
- RochecoreLeading pharmaceutical company in oncology, investing in personalized immunotherapy for cancer patients. Arogya Finance provides cancer treatment financing.
- CochlearcoreGlobal leader in hearing implant systems. Partnership provides financing for cochlear implant surgeries.
- Healthcare at HOMEminorPioneer in personalized home healthcare services in India, offering convenient recovery within comfort of home.
- Boehringer IngelheimminorProvides new hope for cancer patients. Arogya Finance offers treatment financing.
- Morpheus IVFminorWorld-class fertility treatments with cutting edge tools and German doctors, offering result-oriented and cost-effective plans.
- Hear.comminorWorks with 350+ hearing care professionals across India. Uses state-of-art equipment to test hearing and recommend hearing aids.
- Narayana HealthcoreMajor hospital chain with 23+ locations. Patients can avail Arogya Finance medical loans at Narayana Health facilities.
- SEFAMminorDevices for treating sleep apnea, designed to optimize patient comfort and compliance.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
Arogya Finance competitors and assessment
Company assessmentBroad incumbents
- Bajaj Finserv: One of India's largest consumer NBFCs, offering the Bajaj Finserv Health EMI card and extensive no-cost EMI options across hospitals. Comparable as a mass-market medical financing provider, though it operates across many consumer categories rather than specializing in un-bankable borrowers.
- Tata Capital: Diversified Indian NBFC offering consumer loans including medical financing products. Comparable as a broader- portfolio NBFC competing in medical lending with lower-cost capital and stronger brand.
Direct peers
- ZestMoney: India-based digital lending fintech focused on consumer finance for underserved, thin-file borrowers without formal credit history. Closely comparable business model: EMI-based lending to the un-bankable for big-ticket purchases, distributed through merchant networks.
- mPokket: Digital lender providing instant personal loans to salaried informal-sector workers and students in India. Comparable as a digital-first lender serving underbanked Indian borrowers with non-traditional underwriting.
- CASHe: Digital lending platform offering short-term personal credit to young professionals and informal salaried borrowers in India. Comparable customer segment (underbanked Indian consumers) and digital-led origination model.
- MoneyTap: App-based personal credit line provider targeting Indian consumers, including those with limited credit history. Comparable as a consumer digital lender serving underbanked Indians.
- HDFC Credila Financial Services: HDFC Group's NBFC specializing in education and livelihood loans for underserved Indian borrowers. Comparable niche (purpose-specific lending to un-bankable) and India NBFC regulatory structure.
- Spandana Sphoorty Finance: Listed Indian microfinance NBFC focused on small-ticket credit to rural and informal-sector women borrowers. Comparable as an NBFC serving India's un-bankable population with non-traditional underwriting.
- CreditAccess Grameen: Large Indian microfinance institution providing income-generation and consumption loans to underbanked rural households. Comparable as a regulated Indian lender to the un-bankable with proprietary underwriting.
- Kissht: Indian digital lending platform partnering with merchants and healthcare providers to offer instant consumer credit to thin-file borrowers. Closely comparable merchant-partner-led medical/instant-credit model for underbanked Indian consumers.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Arogya Finance social profiles
Digital presenceArogya Finance financial estimates
Financial estimateRevenue estimate
Valuation estimate
Arogya Finance leadership team
Management profileNumber of profiles
Profiles2 records
Arogya Finance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Arogya Finance 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 Arogya Finance
What does Arogya Finance do?
Arogya Finance is an NBFC providing medical loans to traditionally un-bankable populations in India who lack formal income documentation or collateral. The company offers Standard Loans for immediate medical emergencies, Pre-approved Arogya Cards for future medical needs, and specialized Cancer Loans up to Rs 25 lakhs, with funds disbursed directly to hospitals across a 2400+ hospital partner network.
Is Arogya Finance a public or private company?
Arogya Finance is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Arogya Finance founded?
Arogya Finance was founded in 1995. It employs 11 to 50 people.
Where is Arogya Finance based?
Arogya Finance is headquartered in Mumbai, India, in the Asia region.
How does Arogya Finance make money?
One revenue line is on record: medical Loan Interest.
Who are Arogya Finance's main competitors?
Broad incumbents on record are Bajaj Finserv and Tata Capital. Direct peers are ZestMoney, mPokket, CASHe, MoneyTap, HDFC Credila Financial Services, Spandana Sphoorty Finance, CreditAccess Grameen and Kissht.
Does Arogya Finance have an API?
No public API is recorded for Arogya Finance.
What industry is Arogya Finance in?
Arogya Finance's product category is Healthcare Financing. Its primary akta.pro industry code is FSAKAAAF, Medical & Healthcare Personal Loans (Unsecured Installment), with a secondary code of FSAKAFAI, Healthcare & Medical POS Financing. Its NAICS code is 522 and its SIC code is 6141.