Ashneer Grover, the entrepreneurial force behind BharatPe, is once again making headlines in the fintech world with his latest venture, ZeroPe. This new app is dedicated to facilitating instant medical loans, showcasing Grover’s continual influence on the fintech landscape even after his departure from BharatPe.
ZeroPe: A Fintech Solution Empowering Healthcare Access
ZeroPe emerges in a market that’s becoming increasingly receptive to innovative financial solutions in healthcare. The app, still in its testing phase, represents a significant step forward in making medical finance both accessible and immediate for users. Developed by Third Unicorn, Grover’s new venture after BharatPe, ZeroPe is poised to revolutionize how consumers manage healthcare expenses.
The app, listed on Google Playstore and crafted under the Third Unicorn banner, offers a clear and concise promise: instant pre-approved loans up to ₹5 lakhs. However, the catch is that these loans are restricted to use at a network of partnered hospitals, as detailed on the ZeroPe app’s official website.
Partnerships and Operational Model
ZeroPe’s operational model is an example of strategic partnerships in action. Collaborating with Delhi-based Non-Banking Financial Company (NBFC), Mukut Finvest, ZeroPe ensures that financial solutions are not only theoretical but practically accessible at the point of care. This partnership underlines a shared vision between ZeroPe and Mukut Finvest to ease the financial burden on patients needing immediate medical interventions.
Third Unicorn: Grover’s Continuing Legacy in Tech Entrepreneurship
Ashneer Grover’s journey didn’t pause with his exit from BharatPe. Instead, he, along with Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri, established Third Unicorn in January 2023. This venture marks a new chapter in Grover’s entrepreneurial saga, broadening from fintech into the realms of digital entertainment with CrickPe, a fantasy gaming platform launched in the same year.
The inception of Third Unicorn was not just about diversification but also about taking on established giants in the gaming industry, like Dream11 and MPL. This bold move was supported early on with a substantial $3.5 million seed funding, which was co-led by ZNL Growth Fund, showcasing the confidence investors have in Grover’s vision.
Digital Healthcare Financing: A Growing Industry
ZeroPe enters the fintech arena at a time when digital healthcare financing is witnessing a surge in demand and innovation. Companies like SaveIn, Qube Health, and Mykare Health are already establishing footholds in the space, offering a variety of financial products aimed at making healthcare more accessible. Each of these companies contributes to a rapidly evolving ecosystem that integrates hospital networks, health insurance plans, and even government healthcare initiatives to provide comprehensive solutions to patients.
According to a joint report by Boston Consulting Group and B Capital, India’s digital healthcare market is expected to balloon to $37 billion by 2030, with healthcare financing alone poised to reach $5 billion. These figures not only underscore the vast potential of the market but also highlight the timely nature of ZeroPe’s entry into the sector.
Challenges and Controversies
Despite the optimistic outlook, Grover’s journey has not been without its challenges. Recent allegations of a ‘one-sided’ investigation by the Economic Offences Wing of Delhi Police and his outspoken critiques, even against popular platforms like Shark Tank India, point to a tumultuous path. However, Grover’s resilience in the face of adversity is well-noted, as he continues to push forward with his innovative projects.
What is ZeroPe?
ZeroPe is a fintech application developed by Third Unicorn, a company founded by Ashneer Grover post his tenure at BharatPe. The app specializes in providing instant, pre-approved medical loans up to ₹5 lakhs to patients at partnered hospitals, facilitating easier access to healthcare services.
Who founded ZeroPe?
ZeroPe was founded by Ashneer Grover, along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri. They established their new venture, Third Unicorn, which houses ZeroPe and other projects like the fantasy gaming platform CrickPe.
How does ZeroPe work?
ZeroPe partners with hospitals and a Non-Banking Financial Company (NBFC), Mukut Finvest, to offer pre-approved medical loans. These loans are designed to be disbursed swiftly at the point of need, specifically within the network of partnered hospitals.
Can ZeroPe loans be used at any hospital?
No, ZeroPe loans can currently be availed only at hospitals that are part of ZeroPe’s partnered network. The list of these hospitals is available on the ZeroPe app and its website, ensuring transparency and ease of access for users.
What makes ZeroPe different from other medical loan providers?
ZeroPe sets itself apart by offering instant loan approvals and focusing exclusively on medical financing within a network of partnered hospitals. This specialization ensures that patients receive timely financial support without unnecessary delays or procedural complexities.
How has the market responded to ZeroPe?
While still in the early stages of rollout, ZeroPe has garnered attention for its innovative approach to healthcare financing. The app is in line with growing digital solutions that aim to integrate financial services seamlessly into healthcare provision.
