Nationwide healthcare raises funding from SVB India finance

NationWide Primary Healthcare Services Pvt. Ltd has raised rupees 5.5 Crores in a fresh round of venture debt funding led by SVB India Finance.NationWide is a chain of primary care clinics headquartered in Bangalore and co-founded by two doctors, Dr Santanu Chattopadhyay and Dr Shantanu Rahman.

The company currently operates over 20 open-to-public and corporate clinics across Bangalore and Gurgaon, and will be launching new clinics in Delhi and the rest of NCR shortly. Over the next 5 years, NationWide plans to have a presence of around 1000 clinics across India.

SVB India Finance is India’s premier venture and growth debt provider for high-growth companies. It was started in Mumbai in 2008 and is positioned as India’s first and only specialty lending business, targeting high growth entrepreneurial companies in India backed by top-tier venture capital and private equity investors.

Till date, NationWide has raised a total of rupees 31 crores in the form of Angel Investment and Private Equity funding from Norwest Venture Partners.The funds raised this time round are in the form of venture debt,bringing the funding to close to rupees 37 crores. The new infusion of funds will be used by NationWide to diversify and further their expansion plans.

Dr Santanu Chattopadhyay, Founder and CEO, NationWide -The Family Doctors said, “NationWide is at a stage of rapid expansion, aligning with its vision of achieving quality urban Primary Healthcare in India. This round of funding will enable us to focus our efforts on the expansion of our clinics to newer geographies and help ensure that every family has access to a competent and patient-centric family doctor.”

Mr Vinod Murali, Director, SVB India Finance stated, “Dr Santanu Chattopadhyay and his team are solving a very important problem in the Indian healthcare space with reliable and affordable primary care. We are happy to be associated with this high quality team.”