MedPay - About the company
MedPay is a seed company based in Bengaluru (India), founded in 2020 by Arun Bhatia and Ravi Chandra Merugu. It operates as a Digital network platform that connects healthcare providers with insurers. MedPay has raised $1.85M in funding from Entrepreneur First, with a current valuation of ₹*****. The company has 460 active competitors, including 28 funded and 7 that have exited. Its top competitors include companies like SastaSundar, API Holdings and MedPlus.
Company Details
Digital network platform that connects healthcare providers with insurers. The company is building an API platform that connects healthcare service providers like Doctors, Pharmacies, and Diagnostic centers to insurers to accept insurance payments in real time and facilitates a cashless claims process for the insured.
- Website
- www.medpay.in/
- Social
- Email ID
- *****@medpay.in
- Phone Number
- +91 **********
- Registered Address
- No. 198, CMH Road, 2nd Floor, Suite No. 1016, Indiranagar (Bangalore), Bangalore, Bangalore North, Karnataka, India, 560038
Key Metrics
Founded Year
2020
Location
Bengaluru, India
Stage
Seed
Total Funding
$1.85M in 2 rounds
Latest Funding Round
Post Money Valuation
₹***** as on Jul 23, 2021
Investors
Ranked
20th among 460 active competitors
Annual Revenue
₹10 - ₹50 Cr as on Mar 31, 2025
Employee Count
22 as on May 31, 2026
Similar Companies
Legal entities associated with MedPay
MedPay is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
MEDWAY TECHNOLOGIES PRIVATE LIMITED CIN: U72900KA2020PTC133661 , India, Active | Apr 04, 2020 | ₹10 - ₹50 Cr (As on Mar 31, 2025) | - |
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MedPay's funding and investors
MedPay has raised a total funding of $1.85M over 2 rounds. Its first funding round was on Jul 23, 2020. Its latest funding round was a Seed round on Jul 15, 2021 for $*****. 2 investors participated in its latest round. MedPay has 7 institutional investors.
Here is the list of recent funding rounds of MedPay:
Date of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
Jul 15, 2021 | 3523694 | Seed | 3912972 | 9467031 | 5431833 | 6896512 |
Jul 23, 2020 | 9161793 | Seed | 8576464 | 9293920 | 6283319 |
Access funding benchmarks and valuations. Sign up today!View details of MedPay's funding rounds and investors
MedPay's founders and board of directors
Founder? Claim ProfileThe founders of MedPay are Arun Bhatia and Ravi Chandra Merugu. Ravi Chandra Merugu is the CEO of MedPay.
Here are the details of MedPay's key team members:
- Arun Bhatia: Co-Founder & CTO of MedPay and founder of 1 other company. They serve on the board of 1 company.Contact Info: 1 email address and 1 phone number
- Ravi Chandra Merugu: Co-Founder & CEO of MedPay and founder of 1 other company. They serve on the board of 1 company.Contact Info: 1 email address and 2 phone numbers
MedPay's Board of Directors
MedPay's board has 2 active members. Arun Bhatia and Ravi Chandra Merugu are part of team.Here is the list of MedPay's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 6y 2m | |
Team | - | Current | 6y 2m |
View details of MedPay's Founder profiles and Board Members
MedPay's employee count trend
MedPay has 22 employees as of May 26. Here is MedPay's employee count trend over the years:
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MedPay's Competitors and alternates
Top competitors of MedPay include SastaSundar, API Holdings and MedPlus. Here is the list of Top 10 competitors of MedPay, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | SastaSundar 2011, Kolkata (India), Acquired | Provider of an online marketplace for health care products | $48.2M | 74/100 | |
2nd |  API Holdings 2012, Mumbai (India), Series F | Digital healthcare management tool | $1.19B | 73/100 | |
3rd | Web/mobile platform to order for general & prescription based medicines | $1.28M | - | 72/100 | |
4th | Online medical store offering pharmaceutical products and diagnostic services | $688M | 70/100 | ||
5th | Provider of an online pharmacy for medications | - | 69/100 | ||
6th | Provider of a technology-driven online pharmacy and telehealth platform | $114M | 62/100 | ||
7th | Provider of an online store for medicines and healthcare products | $109M | 61/100 | ||
8th | Provider of ultra fast medicine delivery and various health services | $3.1M | 60/100 | ||
9th |  Pharmarack 2015, Pune (India), Acquired | Provider of a SaaS based pharmacy management solution | $6.45M | 55/100 | |
10th | Online pharmacy that delivers life saving medications | $989K | 49/100 | ||
20th | Digital network platform that connects healthcare providers with insurers | $1.85M | 44/100 |
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MedPay's Latest cap tables and shareholding
Founders (largest shareholder) own 57.78%, Funds own 32.22% and ESOP Pool own 10.00%. The net worth of MedPay's founders is INR 19.6Cr as of Jul 23, 2021.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 57.78% | 19.6Cr | 6098187 | 2119273 | 9646299 | 6193784 |
1839776 | 8338434 | 1657204 | 4673873 | 7930900 | 3768468 | |
8360430 | 2051096 | 9363159 | 3773824 | 1196314 | 2293173 | |
Fund | 32.22% | 10.9Cr | 9442659 | 5032276 | 4358043 | 1692763 |
2095818 | 7665238 | 7244147 | 7036281 | 6267247 | 2254629 | |
ESOP Pool | 10.00% | 3.39Cr | 7166291 | 8060465 | 9485607 | 9072155 |
Total | 100.00% | 33.9Cr | 6906404 | 3240047 | 3776136 | 8891088 |
To unlock detailed Cap Table of MedPay Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of MedPay's Shareholding
MedPay's Investments and acquisitions
MedPay has made no investments or acquisitions yet.
Reports related to MedPay
Here is the latest report on MedPay's sector:
News related to MedPay
•
Api Startup Medpay Raises $ 1.2m From Uk-based Ef And Growx VenturesYourStory•Aug 23, 2023•MedPay, Entrepreneur First, GrowX Ventures
•
Medtech start-up Medpay to partner with Go Digit and Acko for cashless OPDsBusiness Today•Jul 04, 2022•MedPay, Digit Insurance, ACKO
•
ICICI Lombard announces cashless OPD service for customers through MedPayLivemint•Dec 06, 2021•MedPay, ICICI Lombard
•
Technology startup MedPay raises $1.2 million seed fundingIndian Startup News•Jul 15, 2021•MedPay, GrowX Ventures, Entrepreneur First
•
API Platform Startup MedPay Raises Funding $ 1.2M From UK-Based EF And GrowX VenturesStartup Story•Jul 15, 2021•MedPay, Entrepreneur First, GrowX Ventures, MEDPAY
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