Arogya Finance

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.

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

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

• Medical loans
• Healthcare financing
• Patient lending
• NBFC lending
• Risk assessment

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. 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

Go-to-market motion2 records

Distribution channels4 records

Marketing channels10 records

Core 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

Named customers7 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

13 partnerships are on record, tiered core and minor.

• Medtronic DiabetescoreStrategic or Co-development PartnerMedtronic Diabetes offers an integrated system combining insulin pumps and Continuous Glucose Monitoring. Arogya Finance provides financing for Medtronic diabetes treatment devices.
• Johnson & JohnsoncoreStrategic or Co-development PartnerJ&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 LaboratoriescoreStrategic or Co-development PartnerLeading multinational pharmaceutical company committed to affordable medicines. Partnership provides medical loans for hepatitis C treatment and other Dr. Reddy's therapies.
• BayercoreStrategic or Co-development PartnerGerman multinational pharmaceutical company. Partnership includes Eylea Easy Pay Program for diabetic macular oedema and wet AMD treatment financing.
• OttobockcoreStrategic or Co-development Partner90+ years of experience in mobility solutions. Provides hi-tech and affordable artificial limbs. Arogya Finance offers 0% interest loans for prosthetics.
• RochecoreStrategic or Co-development PartnerLeading pharmaceutical company in oncology, investing in personalized immunotherapy for cancer patients. Arogya Finance provides cancer treatment financing.
• CochlearcoreStrategic or Co-development PartnerGlobal leader in hearing implant systems. Partnership provides financing for cochlear implant surgeries.
• Healthcare at HOMEminorStrategic or Co-development PartnerPioneer in personalized home healthcare services in India, offering convenient recovery within comfort of home.
• Boehringer IngelheimminorStrategic or Co-development PartnerProvides new hope for cancer patients. Arogya Finance offers treatment financing.
• Morpheus IVFminorStrategic or Co-development PartnerWorld-class fertility treatments with cutting edge tools and German doctors, offering result-oriented and cost-effective plans.
• Hear.comminorStrategic or Co-development PartnerWorks with 350+ hearing care professionals across India. Uses state-of-art equipment to test hearing and recommend hearing aids.
• Narayana HealthcoreChannel Partner/ Reseller/ DistributorMajor hospital chain with 23+ locations. Patients can avail Arogya Finance medical loans at Narayana Health facilities.
• SEFAMminorStrategic or Co-development PartnerDevices for treating sleep apnea, designed to optimize patient comfort and compliance.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad 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

• Xx.com/arogyafinance
• YouTubeyoutube.com/channel/UCKyTQl9c1FI-3nWyYRSgNfQ
• Facebookfacebook.com/arogyafinance
• LinkedInin.linkedin.com/company/arogya-finance
• Instagraminstagram.com/arogyafinance

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

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 Arogya Finance