Source: Entrackr

New Delhi, 3 September 2025 – PB Healthcare Services — formerly a wholly owned subsidiary of PB Fintech (PolicyBazaar’s parent company) — has raised $218 million in its first seed funding round. General Catalyst served as the lead investor, along with PB Fintech and more than 20 other investors.

Funding details

According to filings with the Registrar of Companies (RoC) PB Healthcare issued 18.96 crore shares at ₹100 each to raise funds multiple times. PB Fintech invested ₹539.4 crore (~$62.7M); General Catalyst invested ₹435 crore (~$50M); Think Investments invested ₹235 crore (~$27M) Faering Capital invested ₹217.5 crore (~$25M); Carvesta Partners invested ₹60.85 crore; ENAM Holdings invested ₹50 crore; Promoters Yashish Dahiya and Alok Bansal invested ₹52.2 crore and ₹26.1 crore, respectively. The balance from 15 other investors, including some angel investors.

Shareholding after the round

After the allotment, PB Healthcare’s ownership looks like this:

  • PB Fintech – 25.53%
  • General Catalyst – 20.57%
  • Think Investments – 11.11%
  • Faering Capital – 10.29%
  • Co-Founders PB Fintech Dahiya & Bansal – 3.7% combined
  • ESOP Pool – 10.29%
  • Others – balance shares

Valuation  

Entrackr’s post-money valuation of the company is ₹2,114.6 crore (~$246 million) in a new investment round.  

Path Ahead  

PB Healthcare, founded in 2025, is developing a hospital’s health platform, including linking medical services to insurance. Their plans include:  

Launching a 1,000-bed hospital network in the Delhi NCR  

Using technology and big data to focus on preventative care and reduce unnecessary surgeries  

Streamlining health insurance to be easy and fast by removing pre-approvals, compressing and simplifying claims  

The new funds will be used to launch the hospital network, develop new products and develop healthcare technology.

Industry context

There are many new startups entering the hospital space in India’s healthcare landscape. Earlier this year, Pristyn Care created super-specialty hospitals in Delhi, Gurugram, Hyderabad, and Kochi and is looking at more.

With a $218 million seed round, PB Healthcare’s raise is one of the largest in India to date. The company has significant backing from both global and domestic investors, and it plans to create a health system focused on building a new model of care that integrates hospitals, insurance, and technology to decrease complexity and improve usability.

Conclusion

PB Healthcare’s $218 million seed round signals substantial investor confidence in its mission to integrate hospitals, insurance, and technology so as to ease the delivery of healthcare in India.