BNPL fintech startup BharatX,?backed by Y-Combinator, is ready to expand its services in the healthcare segment with the new acquisition of Zenifi.

Indian BNPL startup BharatX has acquired Zenifi, established in 2023. Zenifi helps healthcare institutions provide patients with instalment payment options.

As part of the deal, Padam Kataria, the co-founder and CEO of Zenifi, will join BharatX as the head of business in its healthcare unit.

Acquiring a new BNPL platform is an excellent addition to BharatX’s current e-commerce financing offering. BharatX enables white-label financing options for over 125 brands. The startup has so far focused on grocery stores and other retail use cases. However, the acquisition of Zenifi provides BharatX with a new infrastructure developed specifically for medical lending.

Zenifi offering revolves around zero-cost and low-cost EMI solutions that enable healthcare providers to improve conversion rates. The startup was founded in 2023 and has already managed to establish cooperation with multiple hospitals and aggregators, as well as generate an annual rate of demand worth over Rs. 1.2 crore.

Adequate healthcare financing mechanisms are critical for healthcare systems worldwide. Proper funding directly affects access to healthcare, the quality of healthcare services, and even the sustainability of the healthcare system altogether.

Healthcare expenses contribute to a large share of many households’ budgets. For example, in India, out-of-pocket expenditure accounts for over 60% of total healthcare expenditures, which places a significant financial burden on individuals and families. Enhanced inflation levels worldwide only increase healthcare costs and limit the scope of affordable healthcare services.

Leading BNPL providers like Klarna have long joined forces with healthcare payment players to enable patients ‘slice’ their bills into monthly instalments. At the same time, there are not many instalment payment options for healthcare financing in India. Thus, many families are either forced to choose poor-quality healthcare services or cannot afford necessary healthcare at all.