BharatPe co-founder and former managing director Ashneer Grover is all set to re-enter the fintech industry with a brand new application with the aim of providing hassle-free medical loans. Ashneer Grover’s new app will be called ZeroPe, and is currently in testing mode.
According to the app’s Google Playstore listing, ZeroPe app has been developed by Third Unicorn, a firm launched by Grover after he stepped down from BharatPe’s top post. Third Unicorn’s most recent launch was a fantasy gaming platform, called CrickPe, in 2023.
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The ZeroPe website says that the app will offer instant pre-approved medical loans of up to ₹5 lakh in partnership with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest. These loans will only be availed at partnered hospitals and medical centres.
Ashneer Grover and his wife Madhuri Jain Grover launched Third Unicorn in partnership with Chandigarh-based entrepreneur Aseem Ghavri in 2023. The company’s first venture was CrickPe, designed to take on rival applications such as Dream11, Mobile Premier League (MPL) and Games24x7’s My11Circle.
In a seed funding round led by ZNL Growth Fund, Third Unicorn raised USD 3.5 million. The funding round was led by partners Vevek Ventures Investments and Rishaayu LLP.
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The market for digital-driven medical loans is witnessing a major boost in India, catering to multiple medical needs such as including hospitalisation, home care, and chronic care management. ZeroPe aims to integrate these medical services into efficient healthcare loan schemes for the general public.
India’s digital healthcare market is projected to generate a revenue of over USD 37 billion by the year 2030, according to a joint report by consulting firm Boston Consulting Group and Singapore-based venture capital firm B Capital. The report further stated that the healthcare financing sector is projected to contribute USD 5 billion to this figure.
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