Fintech startup SaveIn has raised $1.1 million in an extended seed round, led by Bayhouse Capital, taking its total investment so far to over $5 million.

The Gurugram-based startup had raised $4 million (about Rs 30 crore) in April as part of its seed round from existing backer, Silicon Valley’s famed accelerator Y Combinator, and others including 10X Group, Leonis VC, and Goodwater Capital.

Nordstar, Rebel Fund, Pioneer Fund, Soma Capital and SCM Advisors also participated in the funding round in April.

The company had said then that it would deploy the capital to develop its product and hire people as well as spend on branding.

The extended capital raised will be deployed mainly towards product development.

Founded in 2020 by Jitin Bhasin, Anurag Varma and Gaurav Luthra, SaveIn caters to healthcare needs by offering financing and credit options to patients at zero-cost equated monthly instalments (EMIs) across its network of healthcare providers.

The startup covers outpatient services and elective healthcare procedures like dental, eye care, veterinary, dermatology, haircare, and fertility.

“This is a testimony to our vision of creating India’s largest integrated healthcare ecosystem powering access, quality and affordability in private healthcare,” Bhasin said.

The company currently offers its instant zero-cost EMI products to over 600 healthcare providers across 15 cities, it said.

“The buy-now-pay-later segment in healthcare is huge and we at SaveIn have grown over 15 times in revenue…this is reflective of strong signs of early product-market fit and we are confident of revolutionizing how Indians consume healthcare products and services,” Bhasin said.