Ashneer Grover is the co-founder and former managing director of the fintech company BharatPe. After his high-profile exit from BharatPe in 2022, Grover has now ventured into the fintech space again with a new app called ZeroPe.
Introducing ZeroPe: Grover’s Latest Fintech Venture
- ZeroPe is a new fintech app that is currently in the testing phase.
- The app has been developed by Grover’s new company, Third Unicorn, which he launched in January 2023 along with his wife Madhuri Jain Grover and Chandigarh-based entrepreneur Aseem Ghavri.
Focusing on Medical Loans
- The primary focus of ZeroPe is to provide instant pre-approved medical loans of up to Rs 500,000 to users.
- These loans are offered in collaboration with a Delhi-based Non-Banking Financial Company (NBFC) called Mukut Finvest.
- The ZeroPe app service is exclusively available at partner hospitals, as mentioned on the app’s website.
Addressing a Growing Market Need
- ZeroPe is entering a growing market for instant financing solutions for medical bills and elective treatments.
- Other businesses like SaveIn, Qube Health, Arogya Finance, Neodocs, Fibe, Kenko, and Mykare Health are already offering similar services in this space.
Projections for India’s Digital Healthcare Market
- The digital healthcare market in India is projected to generate $37 billion in revenue by 2030.
- Healthcare financing is estimated to contribute $5 billion to this figure.
Grover’s Other Ventures: Third Unicorn and CrickPe
- In January 2023, Grover, along with his wife and the Chandigarh-based entrepreneur, launched Third Unicorn as their new venture.
- Third Unicorn started with a fantasy sports app called CrickPe, which competes with established players like Dream11, MPL, and My11 Circle.
- Third Unicorn raised $3.5 million in a seed funding round led by ZNL Growth Fund, with participation from Vevek Ventures Investments and Rishaayu LLP.