About MedPay
MedPay is a company based in Bengaluru (India) founded in 2020 by Ravi Chandra Merugu and Arun Bhatia. MedPay has raised $1.85 million across 2 funding rounds from investors including Entrepreneur First and growX ventures. MedPay offers products and services including MedPay App, Digital Payments, Delivery Services, and Inventory Management. MedPay operates in a competitive market with competitors including Tata 1mg, Netmeds, Truemeds, PharmEasy and MedPlus, among others.
- Headquarter Bengaluru, India
- Founders Ravi Chandra Merugu, Arun Bhatia
- Stage Minicorn
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Sectors
HealthcareFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Medway Technologies Private Limited
- Date of Incorporation 04 Apr, 2020
- Jurisdiction Bangalore North, Karnataka, India
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Annual Revenue
$950.49 K (USD)299.95as on Mar 31, 2023
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Net Profit
-$623.02 K (USD)-77.2as on Mar 31, 2023
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EBITDA
-$586.42 K (USD)-63.83as on Mar 31, 2023
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Total Equity Funding
$1.85 M (USD)
in 2 rounds
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Latest Funding Round
$1.2 M (USD), Seed
Jul 15, 2021
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Investors
Entrepreneur First
& 1 more
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Employee Count
Not available
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Products & Services of MedPay
MedPay offers a comprehensive portfolio of products and services, including MedPay App, Digital Payments, Delivery Services, and Inventory Management.
App for digitizing operations and payments in retail pharmacies
Service for receiving and managing customer payments
Feature for timely medicine delivery to customers
Tool for monitoring and alerting on stock levels
People of MedPay
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Funding Insights of MedPay
MedPay has successfully raised a total of $1.85M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $1.2 million completed in July 2021. 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.
Investors in MedPay
MedPay has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Entrepreneur First and growX ventures.
| Investor | Description | Founded Year | Domain | Location |
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Provider of a program turning individuals into funded technology company founders
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Early-stage investments are made in B2B and deep-tech startups.
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Investor details for MedPay
Investor domains, locations, round participation, and complete history require an active premium plan.
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- Investor locations
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- Participation history
Verified entity values are shown only after access is granted.
Investments & Acquisitions by MedPay
Investment portfolio details for MedPay
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- Portfolio identities
- Transaction dates
- Round details
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Verified entity values are shown only after access is granted.
Financial Statements - MedPay
Detailed financials for MedPay
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- Historical revenue
- Profit trends
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Medpay Comparisons
Peer comparison for MedPay
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- Named peers
- Headcount comparison
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Competitors of MedPay
MedPay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Tata 1mg, Netmeds, Truemeds, PharmEasy and MedPlus, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Provider of an online pharmacy with doctor listing and teleconsultation services
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Provider of an online store for medicines and healthcare products
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Provider of an online pharmacy and telehealth platform
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Provider of an online pharmacy and healthcare platforms
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Medicines and health products are retailed through pharmacy outlets.
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An online marketplace for healthcare products is operated.
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Detailed competitors of MedPay
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Latest news on Medpay
Complete news archive for MedPay
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- Source and publication date
- Older coverage
- Brand-specific news history
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Frequently Asked Questions about MedPay
MedPay was founded in 2020.
MedPay is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Ravi Chandra Merugu is the current CEO of MedPay. They have also founded this company.
MedPay is a funded company, having raised a total of $1.85M across 2 funding rounds to date.
Annual revenue of MedPay is $950.49K as on Mar 31, 2023.
MedPay was established in 2020 in Bengaluru, India, within the healthcare technology sector. An API platform is developed to integrate service providers, including doctors, pharmacies, and diagnostic centers, with insurers. Real-time insurance payments are enabled, and cashless claims processes are facilitated for policyholders. Operations focus on streamlining transactions in the Indian healthcare ecosystem.
MedPay's top competitors include Tata 1mg, SastaSundar and PharmEasy.
MedPay offers MedPay App, Digital Payments, Delivery Services, and Inventory Management.
MedPay has 2 investors. Key investors include Entrepreneur First, and growX ventures.
The valuation of MedPay is $3.52M as of Jul 2020.