How QubeHealth is making medical expenses more manageable
Founded in 2019 by Chris George and Gagan Kapur, Mumbai-headquartered QubeHealth ensures employees have immediate access to medical funds. It serves over 300 companies, covering about 1.5 lakh employees and their families.
How much are you paying for health insurance premiums? A lot in recent years. In fact, many costs, including diagnostics and consultations, remain uncovered for those availing of employer-provided health insurance; not to mention the extra hospital expenses one pays out of their pocket.
According to the Acko India Health Insurance Index 2024, healthcare costs in India are rising at an annual rate of 14%, with 62% of hospital expenses paid out of pocket and 23% covered through borrowings.
Further, increased demand for advanced treatments and a higher incidence of chronic diseases among Indians have shot up medical inflation and insurance premiums in the country.
A study by Policybazaar.com found that while most customers saw renewal premium hikes of under 10%, nearly 5% experienced increases of over 30%, with some premiums rising to 200% over the last decade—forcing many to liquidate their savings or assets to afford medical care.
“While corporate insurance penetration is high, employees still struggle with everyday that are either uncovered or require cumbersome reimbursements,” Chris George, Co-founder and CEO of QubeHealth, tells YourStory.
Recognising this challenge, George and Gagan Kapur launched in 2019 to ensure employees have immediate access to medical funds by integrating UPI-based payments, no-cost financing, and embedded insurance into employee benefits.
“Our goal was to create a platform that provides instant access to funds for seamless medical payments,” he says, adding the Mumbai-based B2B healthcare payments startup has a team of about 54 employees.
George, an MBA from NYU-Stern, had earlier launched an ecommerce venture EasyBuyMusic/EasyBuyStore, backed by ICICI Ventures, and later EBS Worldwide, a tech-driven marketing services group, before starting QubeHealth. Kapur, his acquaintance of 25 years, served as the Country Head for Argonaut Private Equity and spent over a decade at EY.
How QubeHealth works?
QubeHealth covers expenses often excluded from traditional insurance, including eye, dental, skincare, and pet care. The platform integrates with its client’s corporate HR and payroll systems, where employees can get pre-approved medical credit without lengthy verification.
Its Qube Pay feature enables UPI payments to any healthcare provider in India. On the other hand, Qube Cash provides a pre-approved healthcare credit line of up to Rs 10 lakh with no-cost EMIs for 12 months. Both features can be used across a wide network of healthcare providers, including hospitals, diagnostic centres, pharmacies, and telemedicine services.
“Employees no longer need to worry about paying out of pocket and then waiting for reimbursements. With our platform, they can directly pay for healthcare services using their QubeHealth credit line,” explains George.
Since its launch, QubeHealth has rapidly expanded its footprint from 60 corporate clients initially to now over 300 companies, covering about 1.5 lakh employees and their families. Some of its notable clients include , Airmeet, Colossal, , and Popeyes, among others.
“We are seeing a growing number of companies adopting this model because it solves multiple challenges at once. It reduces paperwork, eliminates reimbursement delays, and provides employees with a much-needed financial safety net for healthcare expenses,” says George.
The startup charges companies a subscription fee of Rs 999 per employee annually, and employees are granted access to these benefits through the QubeHealth app.
According to PolicyBazaar.com and PolicyX, the annual cost of group health insurance per employee varies based on company size, demographics, and coverage in India. As of 2025, premiums typically range from Rs 10,000 to Rs 25,000 per employee. Smaller firms with fewer than ten employees may spend around Rs 13,317 annually per employee, while larger companies with over 100 employees allocate about Rs 19,722 per employee.
QubeHealth claims to be on track to process over Rs 100 crore in healthcare payments by the end of this financial year.
Given the sensitive nature of healthcare financing, QubeHealth prioritises data security and regulatory compliance by adhering to bank-grade security protocols.
“We follow stringent security measures, ensuring only authorised personnel can access relevant data. Every action is logged for transparency and compliance,” the CEO says, adding that administrators can also set role-based permissions to align with corporate governance policies.
The road ahead
According to Mordor Intelligence, the Indian health and medical insurance market is estimated to be Rs 1,01,000 crore in 2025, expected to reach Rs 1,67,000 crore by 2030, growing at a CAGR of 10.6%.
In a competitive market such as India, QubeHealth competes with ekincare, Plum, HealthAssure, and Visit Health. However, George says the startup differentiates itself through its flexible healthcare payments, offering interest-free financing to help users manage medical expenses without additional costs. “Unlike traditional insurance, we allow users to cover healthcare expenses for extended family members, providing broader financial support,” he adds.
In November last year, the Mumbai startup secured undisclosed funding from Unicorn India Ventures and CanBank Venture Capital Fund (VI Fund ‘Empower India Fund’) to enhance its technology and launch new features, including embedded insurance, a Gen-AI-powered recommendation engine, and a healthcare marketplace.
The CEO adds that the company is presently looking to raise about $9 million in a Series A funding round at a valuation of Rs 270 crore.
Moving forward, the startup aims to expand beyond corporate partnerships by collaborating with insurance providers, fintech companies, and healthcare institutions to enhance its ecosystem.
It is also investing in AI-driven predictive analytics to offer personalised healthcare financing options based on usage patterns and medical history.
(The copy was updated to reflect the correct employee numbers)
Edited by Suman Singh
