BharatPe Co-Founder Ashneer Grover is all set to reenter the fintech space with the ZeroPe app, as per a report by Money Control. The app offers medical loans to consumers. A quick search about the app says, “To apply for a medical loan with ZeroPe, download the app, complete a quick application, and receive instant loan approval.”
The app, which is in testing mode, says that it provides flexible loans for healthcare. Co-founded by Ashneer Grover and Aseem Ghavri (co-founder at Third Unicorn), the app is backed by Third Unicorn, a tech start-up.
The Third Unicorn was launched by Grover after his departure from BharatPe. The start-up also launched a cricket fantasy gaming platform called ‘Crickpe’. Crickpe describes itself as an app to play cricket online. “Users can create a virtual team of the best in-form real players, join the contests, and earn points per their actual game performance,” reads a company website. Recently, Third Unicorn also raised about $4 million in seed funding, as per a report by Mint.
In partnership with Mukut Finvest, a Delhi-based non-banking financial corporation (NBFC), ZeroPe will give up to Rs 5 lakhs to cover medical expenses. After downloading the app, customers must verify the KYC process. While the exact timing for the loan disbursal is not given, the app says, “Upon approval, funds are disbursed swiftly, ensuring quick access to the required amount.”
The app will face competition from other instant financial loan platforms such as SaveIn, Qube Health,Mykare Health, Arogya Finance, Neodocs, and others. India’s digital healthcare has been booming. A report by Boston Consulting Group, a consulting firm, and B Capital, a venture capital firm, says that by 2030, India’s digital healthcare sector could generate a revenue of $37 billion.
