About Mfine
Mfine is a Healthcare company based in Bengaluru (India) founded in 2017 by Ashutosh Lawania. Mfine has raised $87.66 million across 9 funding rounds from investors including SBI Group, LifeCell and Alteria Capital. The company has 426 employees. Mfine was last valued at $192.01 million in August 2020. Its website mfine.co draws about 240 thousand monthly visits. Its Indian entity Novocura Tech Health Services Private Limited reported revenue of ₹18.85 Cr. Its focus areas include HealthTech, Healthcare Booking Platforms and Diversified. Its competitors include MediBuddy, Practo and API Holdings; 3 of its 3 listed competitors have raised funding.
Company details
Provider of online doctor consultations, at-home lab tests, and health packages. This includes consultations across various specialties, at-home collection of samples for lab testing, and comprehensive health check packages. The company also offers online ordering of medicines and access to diagnostic imaging services such as X-rays and MRIs. Long-term care programs for specific health conditions are available, along with self-assessment tools for various health risks. Personalized skincare products are also offered.
- Headquarters Bengaluru, India
- Employees 426
- Founders Ashutosh Lawania
- Stage Minicorn
- SectorsHealthcare
- Website category Health
- Email••••••••
- Website mfine.co
- Social LinkedIn X Facebook Instagram YouTube
- Legal Name Novocura Tech Health Services Private Limited
- Date of Incorporation 16 Feb, 2017
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹18.85 Cr
FY 2025 · -64% YoY
- Net Profit₹77 Lakh
FY 2025 · 4% margin
- EBITDA₹77 Lakh
FY 2025 · 4% margin
- Total Equity Funding$87.66M (USD)
in 9 rounds
- Latest Funding Round$48M (USD), Series C
May 2021
- InvestorsSBI Group
& 26 more
- Employee Count426
Associated legal entities of Mfine
Mfine operates through Novocura Tech Health Services Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Novocura Tech Health Services Private Limited CIN U85100TN2017PTC166713 | Active | 16 Feb 2017 | Chennai, Tamil Nadu | ₹18.9 Cr | 426 | 3 | View details |
Apps and channels of Mfine
Mfine publishes 1 mobile app with over 5M+ downloads; its YouTube channel MFine Care has 80.3K subscribers and 30 videos.
Videos from Mfine
The most watched videos on Mfine's YouTube channel, MFine Care (80.3K subscribers). Click a video to play it here.
More on MFine Care.
Funding Insights of Mfine
Mfine has successfully raised a total of $87.66M across 9 strategic funding rounds. The most recent funding activity was a Series C round of $48 million completed in May 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.
- Total Funding $87.66M
- Total Rounds 9
- Last Round Series C — $48M
- First Round $386,997
(Jun 2017)
- Investors Count 27
All 9 funding rounds of Mfine 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 |
|---|---|---|---|---|---|
| May 2021 | $48M | Series C | – | Caretech, Beenext | |
| Aug 2020 | $409,791 | Debt – Venture | – | – | |
| Aug 2020 | $16.37M | Series B | $192.01M | Caretech, Alteria Capital | – |
| Jun 2019 | $4.45M | Debt – Venture | – | – | |
| Nov 2018 | $17.2M | Series B | $59.91M | Stellaris Venture Partners, SBI Ven Capital | |
| Oct 2018 | $814,121 | Debt – Venture | – | – | |
| Mar 2018 | $4.2M | Series A | $••••• | Prime Venture Partners | |
| Aug 2017 | $1.5M | Seed | $••••• | Stellaris Venture Partners | |
| Jun 2017 | $386,997 | Angel Round | $••••• | Pooja Gupta, Pooja Gupta |
| Date | Valuation | Stage |
|---|---|---|
| Aug 2020 | $192.01M | •••••••• |
| Nov 2018 | $59.91M | •••••••• |
| Mar 2018 | $••••• | •••••••• |
| Aug 2017 | $••••• | •••••••• |
| Jun 2017 | $••••• | •••••••• |
Full valuation and stage history of Mfine
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $192.01M (Aug 2020). 27 investors in total: 13 institutional and 14 angel.
Investors in Mfine
Mfine has secured backing from 27 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include SBI Group, LifeCell and Alteria Capital.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund focused on tech startups | primevp.in | Bengaluru, India | ||
Venture capital firm investing in early-stage startups across fintech, software, and other sectors. | 2016 | stellarisvp.com | Bengaluru, India | |
Early-stage venture capital fund | beenext.com | Singapore, Singapore | ||
Private equity and venture capital investment firm | heritascapital.com | Singapore, Singapore | ||
Venture debt funding and structured finance for innovative startups in India. | 2018 | alteriacapital.com | Mumbai, India | |
Investments are made in early-stage blockchain and fintech companies. | sbivencapital.com.sg | Singapore, Singapore | ||
Venture capital funds are managed to support unlisted companies' growth. | sbinvestment.co.jp | Minato City, Japan | ||
Management and advisory services are provided by Caretech. | caretechgroup.com | Brooklyn, United States | ||
Delivers comprehensive business management consulting services. | 2015 | moorestrategic.com | Brentwood, United States | |
Diversified operations in finance, biotech, and healthcare are managed. | 1999 | sbigroup.co.jp | Tokyo, Japan |
Investor details for Mfine
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Board of directors of Novocura Tech Health Services Private Limited (Mfine)
Novocura Tech Health Services Private Limited is the primary company behind Mfine. The board of Novocura Tech Health Services Private Limited currently have 2 directors; the longest-serving is Ashutosh Lawania, appointed in 2017. 4 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ashutosh Lawania DIN 01295011 | Director | 16 Feb 2017 | 9 yrs 8 mo | Novocura Tech Health Services Private Limited |
| Abhaya Mayur DIN 02234552 | Director | 19 Jul 2022 | 4 yrs 3 mo | Novocura Tech Health Services Private Limited |
People of Mfine
54 people are tracked at Mfine (16 in leadership, 38 in team); the tracked headcount is 426.
| Name | Role | Group |
|---|---|---|
| Co-Founder | Leadership | |
Prasad Kompalli | CEO & Co-Founder | Leadership |
Shafeeq Ahmed | Director | Leadership |
Priyanka Goswami | TA Partner | Leadership |
Naveen Kumar | Head Of Account Management | Leadership |
Imbesat Anwar | Head - Operations & Supply | Leadership |
Dr. Chandni Kushwaha | Senior General Manager | Leadership |
Dhaval Chudasama | Director Of Product Management | Leadership |
Rohit Argal | Senior Vice President | Leadership |
Anita Venkat | Senior Director | Leadership |
Siri Vishwanath | Chief Business Officer | Leadership |
Bhawi Panwar | Program Manager & Chief Dietitian | Leadership |
Dr. Raja Indana | Head Of Marketing | Leadership |
Dr Gaurav Lillaney | Head Of Account Management And Institutional Sales | Leadership |
Ajay Gulati | Head - Vendor Operations & Supply | Leadership |
Mohit Kharbanda | Regional Head- Corporate Sales | Leadership |
Suraj Prakash Agarwalla | Corporate Sales | Team |
Dr Neeraj Raj B | Digital Consultant Psychiatrist | Team |
Aswanth M M | Operations | Team |
Krishna Jha | Engineering Manager | Team |
34 more people are available in the full profile.
Complete people profiles for Mfine
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Financials of Mfine
Figures of Novocura Tech Health Services Private Limited, the primary company behind Mfine, for FY 2025. Revenue was ₹18.85 Cr (-64% year on year). Net profit was ₹77 Lakh (4% margin). EBITDA was ₹77 Lakh (4% margin). Revenue has grown at a compounded annual rate of -29% over three years and +9% over five years.
- ₹18.85 CrRevenue · FY 2025 · -64% YoY
- ₹77 LakhNet profit · 4% margin
- ₹77 LakhEBITDA · 4% margin
- ₹18.59 CrPaid-up capital
- 426Employees (provident fund records)
- -29%Revenue CAGR, 3 years
- +9%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Novocura Tech Health Services Private Limited are on its company page.
Detailed financial statements for Mfine
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
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Timeline of Mfine
4 dated milestones of Mfine across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Mfine is founded.
- Funding First funding round of $387K.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $48.0M.
Competitors of Mfine
Mfine has 3 listed competitors in our database, 3 of them funded. They include MediBuddy, Practo and API Holdings.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| medibuddy.in | 2013 | Bengaluru, India | $193.12M | 1,192 | Online platform offering multiple healthcare services | |
| practo.com | 2008 | Bengaluru, India | $227.88M | Doctor appointments are booked and healthcare professionals are consulted online. | ||
| apiholdings.in | 2012 | Mumbai, India | $1.19B | 221 | Digital healthcare tools are offered for pharmacies and clinics management. |
Detailed competitors of Mfine
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
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Web traffic of Mfine
The website of Mfine (mfine.co) receives about 239.6K visits a month and ranks #196,203 among all websites worldwide, #6,352 in Health.
- Monthly visits239.6K
▲ 5.6% vs previous month
- Unique visitors136.3K
per month
- Global rank#196,203
among all websites
- Category rank#6,352
Health · Health
- Bounce rate58%
- Pages per visit2.4
- Average visit1 min 15 sec
- DevicesDesktop 11% · Mobile 89%
Websites whose visitors overlap most with Mfine. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
medintu.in | medintu.in | 100% | #14,620,281 | – | |
| rxdx.in | 95% | 39K | #718,167 | View details | |
| healthians.com | 94% | 1.3M | #61,303 | View details | |
| docgenie.in | 93% | #338,094 | View details | ||
| medifee.com | 89% | 114.4K | #365,212 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Mfine
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 40 similar websites
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Top companies in Digital Health & Telemedicine
3 companies that operate in the same segment as Mfine (Digital Health & Telemedicine) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of an online pharmacy with doctor listing and teleconsultation services | 2015 | Delhi, Delhi, India | USD 230.8 M | USD 328.97 M | 5,212 | |
Online platform offering multiple healthcare services | 2013 | Bengaluru, Karnataka, India | USD 199.22 M | USD 62.4 M | 52 | |
An online marketplace for healthcare products is operated. | 2011 | Kolkata, West Bengal, India | USD 38.26 M |
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Related news about Mfine
Complete news archive for Mfine
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Frequently Asked Questions about Mfine
Mfine was founded in 2017.
Mfine is headquartered in Bengaluru, India. It is registered at Bengaluru, Karnataka, India.
Mfine is a funded company, having raised a total of $87.66M across 9 funding rounds to date. The company's 1st funding round was a Angel Round of $387K, raised on Jun 2017.
Mfine has 426 employees.
The primary company behind Mfine, Novocura Tech Health Services Private Limited, reported revenue of ₹18.85 Cr for FY 2025, down 64% year on year.
Provider of online doctor consultations, at-home lab tests, and health packages. This includes consultations across various specialties, at-home collection of samples for lab testing, and comprehensive health check packages. The company also offers online ordering of medicines and access to diagnostic imaging services such as X-rays and MRIs. Long-term care programs for specific health conditions are available, along with self-assessment tools for various health risks. Personalized skincare products are also offered.
Mfine's top competitors include MediBuddy, Practo and API Holdings.
Mfine has 27 investors. Key investors include SBI Group, LifeCell, Alteria Capital, Stellaris Venture Partners, and Prime Venture Partners.
The valuation of Mfine is $192.01M as of Aug 2020.
Mfine operates through Novocura Tech Health Services Private Limited.
The legal entities of Mfine currently have 3 directors, including Navaratan Kakani, Ashutosh Lawania, Abhaya Mayur.
Yes. Mfine publishes MFine: Your Healthcare App, with over 5 million downloads.