Latest news with #YashishDahiya
Reuters
12-05-2025
- Business
- Reuters
Policybazaar parent PB Fintech's new India hospital venture raises $218 million
May 8 (Reuters) - Policybazaar owner PB Fintech ( opens new tab said on Thursday its new healthcare venture has raised $218 million in a seed round, marking its entry into India's fast-growing healthcare industry. The venture, PB Health, will use the funds to set up four to five hospitals in and around New Delhi by 2027, with a long-term plan to build a 25–30 hospital network across 10 Indian cities, PB Fintech chairman Yashish Dahiya told Reuters in an interview. The fund raise includes $50 million from Silicon Valley-based General Catalyst, which last year led a $340 million round in Mumbai-based quick commerce startup Zepto and is a backer in Indian startups Cred and Spinny. Policybazaar is India's largest insurance aggregator, selling health, life, and motor coverage on behalf of insurers. 'Providing quality affordable healthcare in India is a complex challenge. We believe one way to tackle this issue is through the world of insurance,' Dahiya said. PB Fintech's initial investment of about $62 million will give it a 26% stake in PB Health, Dahiya said, without naming other shareholders. Private investment in Indian healthcare has surged in recent years, with the sector drawing 84 PE/VC deals worth $3.2 billion in 2024 and 62 deals totalling $5 billion in 2023, according to a report by EY and IVCA. "We believe India has a unique opportunity to leapfrog legacy models and build a resilient, inclusive health assurance system," Neeraj Arora, MD of General Catalyst said in a statement. The investment comes just a year after General Catalyst expanded in India by merging, opens new tab with local venture firm Venture Highway and earmarking $500 million to $1 billion for fresh investments in the country.
Time of India
08-05-2025
- Business
- Time of India
PB Healthcare raises $218 million in one of India's largest seed rounds
Policy bazar BENGALURU: In one of the largest seed funding rounds in India, PB Healthcare Services has secured $218 million to build an integrated, value-based care platform targeting the country's underserved middle class. The round was led by US-based venture capital firm General Catalyst, with participation from PB Fintech among others. PB Healthcare is the latest venture from Yashish Dahiya, founder and CEO of PB Fintech, which operates Policybazaar , a digital insurance marketplace. The new health entity aims to address structural gaps in affordability and access to healthcare by combining hospital infrastructure with low-cost insurance offerings. Operation Sindoor IC-814 hijacking mastermind Abdul Rauf Azhar killed in Op Sindoor Pahalgam attack: India flays Pak for opposing TRF mention in UN statement Did Pak shoot down Indian jets? What MEA said The company plans to establish a nationwide network of high-quality secondary care hospitals bundled with targeted insurance plans, operating within a closed-loop model from care to claims. General Catalyst described this as part of a broader shift from 'reactive healthcare to health assurance' – with a focus on proactive, affordable, and accessible care delivery. 'India's middle class – over 400 million people – still lacks affordable access to basic healthcare services,' General Catalyst said in a blog post. 'PB Health is building one of the country's first truly integrated care platforms to change that.' Neeraj Arora, managing director at General Catalyst, said the firm believes India has an opportunity to leapfrog legacy healthcare models. 'Yashish has already built one of India's largest insurance platforms and is uniquely positioned to deliver impact at scale.' Dahiya noted that the investment will go toward building a tech-first, patient-centric healthcare system. 'Our focus remains on improving outcomes, enhancing trust, and redefining the care journey for millions across India,' he said. PB Healthcare's leadership team includes seasoned hospital executive Rajeev Bhandari as head of operations, bringing over two decades of healthcare management experience across global markets. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
08-05-2025
- Business
- Business Standard
PB Health raises $218 mn in seed round led by US-based General Catalyst
Delhi National Capital Region (NCR)-based PB Healthcare Services, an affiliate of PB Fintech, on Thursday announced that it has raised $218 million (around Rs 1,850 crore) in its first major equity infusion, in a seed funding round led by US-based global investment firm General Catalyst and other investors. The company is the health venture of PB Fintech, which is also the parent firm of online financial services providers Policybazaar and Paisabazaar. In a statement, PB Health said the investment will be used to establish its initial hospital network in the Delhi NCR region and to accelerate product development and technological innovation. The company, incorporated on 1 January this year, has publicly stated that its initial focus is on setting up a 1,000-bed hospital network in the Delhi NCR region, with plans for phased expansion. The company stated that it is aiming to build an end-to-end healthcare platform that integrates both care and insurance. 'By operating its own hospitals and leveraging technology, analytics and a preventive-care approach, the company aims to improve long-term health outcomes, reduce avoidable surgeries, and deliver a more predictable, full-stack patient experience,' PB Health said. Yashish Dahiya, chairman and group CEO at PB Fintech, said that partnering with General Catalyst will help the firm ramp up in the health space, given the latter's deep investment experience and strong understanding of health tech. 'Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust and redefines the care journey for millions across India,' Dahiya added. General Catalyst's interest in the Indian health space comes just a year after it expanded in the country by merging with local firm Venture Highway and earmarking $500 million to $1 billion for fresh investments in India. The Silicon Valley-based investment firm also led a $340 million round in Mumbai-based quick commerce startup Zepto last year. It also backs Indian startups such as Cred and Spinny.
Yahoo
08-05-2025
- Business
- Yahoo
PB Health raises $218m in funding to develop hospital network in Delhi, India
PB Health, a healthcare initiative launched by India-based company PB Fintech, has secured $218m in early-stage investment. The funding round was led by global investor General Catalyst and represents PB Fintech's expansion into the healthcare industry. PB Health will use the funds to develop a network of hospitals in the Delhi National Capital Region (NCR) area, as well as support product innovation and service improvement efforts. PB Fintech chairman and group CEO Yashish Dahiya said: 'We are very excited to partner with General Catalyst in building the next chapter of healthcare in India. 'Since 2015, we've always chosen our primary investor carefully, and this time was no different — we approached the General Catalyst team for their deep investment experience and strong understanding of health tech. 'Our vision is to create a truly integrated healthcare ecosystem where patients can experience frictionless, high-quality care. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India.' PB Health is currently working on a platform to bring together healthcare provision and insurance offerings, employing technology and data insights to improve efficiency. PB Fintech aims to manage its medical facilities directly through PB Health, to minimise unnecessary procedures and deliver an integrated patient experience. General Catalyst managing director Neeraj Arora said: 'At General Catalyst, we are proud to support PB Health on its mission to reimagine healthcare in India. 'We believe India has a unique opportunity to leapfrog legacy models and build a resilient, inclusive health assurance system—one that makes care more proactive, affordable, and accessible. 'Yashish has already built one of India's largest insurance platforms, and is uniquely positioned to deliver impact at scale for the country's middle class.' "PB Health raises $218m in funding to develop hospital network in Delhi, India" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Mint
08-05-2025
- Business
- Mint
PB Healthcare secures $218 million in seed funding from PB Fintech, General Catalyst
PB Healthcare Services Pvt. Ltd has secured seed funding of $218 million from global investment firm General Catalyst, PB Fintech Ltd and others, the startup said in a statement on Thursday. In the seed funding round, which valued the healthcare venture at $243 million, PB Fintech invested $62 million for a 26% stake, while General Catalyst infused $50 million for 20.57%. Incorporated on 1 January 2025, Gurugram-based healthcare firm will use the proceeds to set up a 1,000-bed hospital network in the National Capital Region and accelerate product development and technological innovation. This is part of the startup's broader aim to build an end-to-end platform that integrates healthcare and insurance. To be clear, PB Healthcare is a separate entity from listed PB Fintech, which owns Policybazaar and Paisabazaar. Though Yashish Dahiya, chairman and group chief executive of PB Fintech, is leading the venture, PB Fintech's role will be that of an incubator and not a long-term owner. In 2024, Dahiya revealed his plans to enter the healthcare space through a one-time investment of up to $100 million for a 20-30% stake. He explained the new healthcare entity will eventually generate its own resources for growth and may attract investments from private equity firms and other financial institutions. 'Our vision is to create a truly integrated healthcare ecosystem where patients can experience frictionless, high-quality care. Our focus remains on building a tech-first healthcare platform that improves outcomes, enhances trust, and redefines the care journey for millions across India,' said Dahiya. The company will improve long-term health outcomes, reduce avoidable surgeries, and deliver a more predictable, full-stack patient experience by operating its own hospitals, leveraging technology, analytics, and a preventive-care approach, PB Healthcare said in the statement.
