Healthcare app mfine in talks to raise $17 million
The company primarily earns money through commissions from customer consultation, lead-generation fees from hospitals and corporate tie-ups.
The group, which invests in financial services and technology sectors across Asia, manages about $4.7 billion in assets globally.
“Making healthcare available to all in India using technology is a large opportunity, and there is strong interest in the market to back such startups if there is some demonstrated proof of concept,” said a person aware of the deal. Emailed queries sent by ET to SBI Ven Cap and mfine founder Prasad Kompalli did not elicit a response till press-time on Monday. mfine is an AI-powered healthcare platform that connects patients with doctors from branded hospital chains on instant chat or video consultation.
It also has tie-ups with hospitals in the city to provide accessible and reliable medical care. Top specialities on the app include gynaecology, dermatology, paediatrics, cardiology and general medicine. The company primarily earns money through commissions from customer consultation, lead-generation fees from hospitals and corporate tie-ups.
mfine was founded in 2017 in Bengaluru by former Myntra top executive Prasad Kompalli and Ashutosh Lawania. Till date, the company has raised more than $6 million. mfine competes with players including Lybrate, Docsapp, Medimetry, Medlife and Practo is addressing the $40-billion primary healthcare market in India.