About LetsMD
LetsMD is a Financial Services company based in Delhi (India) founded in 2015 by Nivesh Khandelwal. It operates as a platform offering medical financing solutions. It operates in the Financial Services and Healthcare sectors. LetsMD has raised $921.18 thousand across 2 funding rounds from investors including LetsVenture, Primarc and Orios Venture Partners. The company has 57 employees. LetsMD was last valued at $4.07 million in September 2018. Its chief executive is Nivesh Khandelwal. Its Indian entity Medbay India Private Limited reported revenue of ₹18.49 Cr. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans. Its competitors include BankBazaar, Alyve Health, ManipalCigna Health Insurance, AyushPay and Vital; 4 of its 5 listed competitors have raised funding.
Company details
LetsMD was founded in 2015 in Delhi, India, within the healthcare fintech sector. A platform is operated to enable users to compare hospitals, access doctor videos, review surgical pricing, book appointments, and convert hospital bills into equated monthly installments. Data-driven credit assessments are utilized for financing with minimal documentation. Claims management and digital billing tools are supported for healthcare providers across operations.
- Headquarters Delhi, India
- Employees 57
- Founders Nivesh Khandelwal
- Stage Minicorn
- SectorsFinancial ServicesHealthcare
- Phone•••• ••••
- Website letsmd.com
- Social LinkedIn X Facebook
- Legal Name Medbay India Private Limited
- Date of Incorporation 02 Dec, 2015
- Jurisdiction New Delhi, Delhi, India
- Annual Revenue₹18.49 Cr
FY 2022 · +1003% YoY
- Net Profit₹17.56 Cr
FY 2022 · 95% margin
- EBITDA₹17.56 Cr
FY 2022 · 95% margin
- Total Equity Funding$921.18K (USD)
in 2 rounds
- Latest Funding Round$411.95K (USD), Seed
Sep 2018
- InvestorsLetsVenture
& 39 more
- Employee Count57
Associated legal entities of LetsMD
LetsMD operates through Medbay India Private Limited (under liquidation). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2022) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Medbay India Private Limited CIN U74999DL2015PTC288081 | Under Liquidation | 02 Dec 2015 | New Delhi, Delhi | ₹18.5 Cr | 57 | 3 | View details |
Funding Insights of LetsMD
LetsMD has successfully raised a total of $921.18K across 2 strategic funding rounds. The most recent funding activity was a Seed round of $411.95 thousand completed in September 2018. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $921,180
- Total Rounds 2
- Last Round Seed — $411,945
- First Round $509,235
(Aug 2016)
- Investors Count 40
All 2 funding rounds of LetsMD with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep 2018 | $411,945 | Seed | $4.07M | Orios Venture Partners | – |
| Aug 2016 | $509,235 | Seed | $2.11M | WaterBridge |
| Date | Valuation | Stage |
|---|---|---|
| Sep 2018 | $4.07M | •••••••• |
| Aug 2016 | $2.11M | •••••••• |
Last known valuation $4.07M (Sep 2018). 40 investors in total: 22 institutional and 18 angel.
Investors in LetsMD
LetsMD has secured backing from 40 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include LetsVenture, Primarc and Orios Venture Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on early-stage investments | 2013 | oriosvp.com | Mumbai, India | |
Early-stage tech investments are focused on by WaterBridge in India. | – | waterbridge.vc | Delhi, India | |
Online togel betting services with promotions, secure transactions, and mobile access. | 2013 | calcutta-angels.com | Kolkata, India | |
Private equity is directed toward private companies in diversified sectors. | – | lansdowneinvestments.com | Lansdowne, United States | |
Venture capital fund focused on fintech and multiple sectors | – | shwetambrainvestment.tcc.mode | Kolkata, India | |
Venture capital fund focused on multiple sectors | – | gracetechnoventure.tcc.mode | Mumbai, India | |
Venture capital firm focused on seed-stage investments | – | chandrodaymercantiles.tcc.mode | Kolkata, India | |
Venture capital investments are directed toward fintech and diverse sectors. | – | ranisatiproperties.tcc.mode | Kolkata, India | |
Venture capital funding is provided to fintech and diverse sectors. | – | fortiusadvisorypartners.tcc.mode | Mumbai, India | |
Venture capital firm focused on multiple sectors | – | samvidhiprojects.tcc.mode | Kolkata, India |
Investor details for LetsMD
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Medbay India Private Limited (LetsMD)
Medbay India Private Limited is the primary company behind LetsMD. The board of Medbay India Private Limited currently have 3 directors; the longest-serving is Nivesh Khandelwal, appointed in 2015. 9 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Nivesh Khandelwal DIN 00111051 | Director | 02 Dec 2015 | 10 yrs 10 mo | Medbay India Private Limited |
| Kailash Gupta DIN 09012698 | Director | 31 Dec 2020 | 5 yrs 9 mo | Medbay India Private Limited |
| Damodar Gupta Prasad DIN 00054587 | IRP/RP/Liquidator | 20 Mar 2023 | 3 yrs 7 mo | Medbay India Private Limited |
People of LetsMD
5 people are tracked at LetsMD (2 in leadership, 3 in team); the tracked headcount is 57.
| Name | Role | Group |
|---|---|---|
| Co-Founder & CEO | Leadership | |
Anil kumar | Head Of Sales | Leadership |
Yashi Seth | Collections Officer | Team |
Avinash K. | Relationship Manager | Team |
Madhuri Dutta | Senior HR Manager | Team |
Complete people profiles for LetsMD
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
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Verified entity values are shown only after access is granted.
Financials of LetsMD
Figures of Medbay India Private Limited, the primary company behind LetsMD, for FY 2022. Revenue was ₹18.49 Cr (+1003% year on year). Net profit was ₹17.56 Cr (95% margin). EBITDA was ₹17.56 Cr (95% margin). Revenue has grown at a compounded annual rate of +247% over three years and +371% over five years.
- ₹18.49 CrRevenue · FY 2022 · +1003% YoY
- ₹17.56 CrNet profit · 95% margin
- ₹17.56 CrEBITDA · 95% margin
- ₹26 LakhPaid-up capital
- 57Employees (provident fund records)
- +247%Revenue CAGR, 3 years
- +371%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Medbay India Private Limited are on its company page.
Detailed financial statements for LetsMD
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of LetsMD
4 dated milestones of LetsMD across 3 years, from founding to its latest funding, stage changes and deals.
- Founded LetsMD is founded.
- Funding First funding round of $509K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Seed, of $412K.
Competitors of LetsMD
LetsMD has 5 listed competitors in our database, 4 of them funded. They include BankBazaar, Alyve Health, ManipalCigna Health Insurance, AyushPay and Vital, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| bankbazaar.com | 2008 | Chennai, India | $132.09M | 795 | Financial products, loans, and credit scores are aggregated and compared. | |
| alyve.health | 2020 | Mumbai, India | $6.41M | 164 | Provider of AI based health monitoring and wellness benefits platform for employees and individuals | |
| manipalcigna.com | 2012 | Mumbai, India | – | – | An online platform for customized health insurance policies is provided. | |
| ayushpay.com | 2021 | Delhi, India | $2.16M | 12 | Healthcare plans with medical loans and benefits are provided. | |
| getvital.in | 2019 | Delhi, India | $3.87M | 1 | Usage-based health insurance is offered to individuals and businesses. |
Detailed competitors of LetsMD
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Top companies in Insurance Providers
10 companies that operate in the same segment as LetsMD (Insurance Providers), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
General and life insurance products are provided across multiple categories. | 2016 | Bengaluru, Karnataka, India | USD 462.45 M | USD 1.12 B | 4,589 | |
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 746.17 M | USD 216.04 M | 1,306 | |
Provider of a cloud-based platform for life and P&C insurance | 2015 | New York, New York, United States | USD 644 M | USD 615.2 M | 1,471 | |
App-based health insurance is offered to individuals and businesses. | 2016 | Paris, Ile de France, France | USD 863.12 M | – | 1,606 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 161.3 M | USD 369.88 M | 625 | |
Online small business insurance policies are provided. | 2016 | Palo Alto, California, United States | USD 1.12 B | – | 549 | |
App-based comparison platform for financial products | 2009 | San Francisco, California, United States | USD 123.3 M | USD 836.6 M | 650 | |
Homeowners insurance coverage is delivered via an online platform. | 2015 | Palo Alto, California, United States | USD 709.36 M | USD 468.6 M | 640 | |
Online health insurance is provided to individuals and businesses. | 2012 | New York, New York, United States | USD 1.63 B | USD 11.7 B | 2,908 | |
Insurance plans are compared and purchased via an online marketplace. | 2008 | Gurugram, Haryana, India | – | USD 502.59 M | 31,422 |
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Related news about Letsmd
Complete news archive for LetsMD
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Frequently Asked Questions about LetsMD
LetsMD was founded in 2015 and raised its 1st funding round 1 year after it was founded.
LetsMD is headquartered in Delhi, India. It is registered at Delhi, Delhi, India.
Nivesh Khandelwal is the current CEO of LetsMD. They have also founded this company.
LetsMD is a funded company, having raised a total of $921.18K across 2 funding rounds to date. The company's 1st funding round was a Seed of $509.24K, raised on Aug 2016.
LetsMD has 57 employees.
The primary company behind LetsMD, Medbay India Private Limited, reported revenue of ₹18.49 Cr for FY 2022, up 1003% year on year.
LetsMD was founded in 2015 in Delhi, India, within the healthcare fintech sector. A platform is operated to enable users to compare hospitals, access doctor videos, review surgical pricing, book appointments, and convert hospital bills into equated monthly installments. Data-driven credit assessments are utilized for financing with minimal documentation. Claims management and digital billing tools are supported for healthcare providers across operations.
LetsMD's top competitors include BankBazaar, Alyve Health and ManipalCigna Health Insurance.
LetsMD has 40 investors. Key investors include LetsVenture, Primarc, Orios Venture Partners, Calcutta Angels, and Ncube Incorporated Attorneys.
The valuation of LetsMD is $4.07M as of Sep 2018.
LetsMD operates through Medbay India Private Limited.
The legal entities of LetsMD currently have 3 directors, including Kailash Gupta, Damodar Gupta Prasad, Nivesh Khandelwal.