Fintech 2.0? BharatPe co-founder Ashneer Grover set to re-enter payments space with new venture | Companies News
Phonepe founder Ashneer Grover is set to re-enter the fintech space with his new app offering ZeroPe, which is focused on lending for medical reasons. This will be Grover’s second outing with a fintech brand after BharatPe. He was removed from the board of BharatPe by the company’s board of driectors.
Madhuri Jain Grover (left) with Ashneer Grover (right). (Photo credit: X/ @Ashneer_Grover)
New Delhi: BharatPe co-founder Ashneer Grover is set to re-enter the fintech space with his new startup, ZeroPe, to be launched under his latest company, Third Unicorn. ZeroPe is currently in the testing stage. ZeroPe is a financial technology firm whose app is available on Google Play Store and the Apple App Store. According to its website, ZeroPe is a platform that is meant to streamline payments for healthcare by enhancing efficiency and convenience. The platform claims to offer flexible healthcare loans up to Rs 5 lakh.
Grover’s fascination with ‘Pe’
- Ashneer Grover has always been fascinated with the term ‘Pe’, something that landed him in trouble with payments company PhonePe when its was a subsidiary of e-commerce giant Flipkart. Flipkart and PhonePe are owned by US-based Walmart Inc.
- Since then, Grover has launched PostPe and more, recently, CrickPe a fantasy gaming platform launched in 2023.
How ZeroPe works
ZeroPe users can complete KYC
- They should then explore partner hospitals for treatment
- Now, enter the loan amount and select a repayment plan
- ZeroPe claims to disburse loans in a seamless manner
- ZeroPe has been co-founded by Ashneer Grover and Aseem Ghavri.
- ZeroPe extends loans in partnership with the NBFC Mukut Finvest.
Griver and Ghavri are also partners in Third Unicorn. Ashneer’s wife Madhuri Jain Grover is also a partner in the company which has raised $3.5 million from ZNL Growth Fund.
Ashneer Griver is not the only former startup founder to have entered the fintech space. Flipkart co-founder Sachin Bansal has also entered the space with his startup Navi. Besides operating a mutual fund linked to the Nifty IT index, Navi also provides payments services via UPI, home loans, cash loans, and health insurance.
Canara Heal healthcare loan
Canara Bank recently launched Canara Heal, a loan that covers your hospital bill for the amount not covered by your insurance. This is a quick sanction and disbursement product, according to the lender’s website.
India’s healthcare financing sector is expected to garner revenues to the tune of $5 billion, according to a joint report by Boston Consulting Group and VC firm B Capital.
