Ashneer Grover’s ZeroPe Debuts as Fintech’s Lending Tech Solution

Ashneer Grover, known for co-founding BharatPe, has launched a new fintech platform called ZeroPe. It’s a solution aimed at simplifying medical bill payments by offering financing options. ZeroPe is a product of Third Unicorn, co-founded by Grover and Aseem Ghavri, and it collaborates with Mukut Finvest to provide loans for healthcare expenses. The app distinguishes itself by focusing on the healthcare sector, providing a direct and efficient service for medical financing in India.

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Continuing the buzz from his previous stint in the fintech realm at BharatPe, Ashneer Grover is gearing up for another ride in the sector with his latest endeavor. Teaming up with Aseem Ghavri, Grover is diving into the lending tech arena with the birth of ZeroPe.

This marks Grover’s second venture under the Third Unicorn umbrella, following the launch of the fantasy cricket app CrickPe last year.

According to ZeroPe’s website, the platform is set to provide medical loans of up to INR 5 Lakh directly to customers, exclusively accessible at the company’s partner hospitals. The startup has inked a collaboration with Delhi-based non-banking financial company (NBFC) Mukut Finvest to kick off this new initiative.

The new product launch is taking place amidst several legal disputes between Grover and his previous employer, BharatPe. The two parties have been in conflict since 2022, when the former Managing Director of the company departed following allegations of financial misconduct at BharatPe.

One case involves allegations of financial irregularities amounting to INR 89 crore by Grover and his wife Madhuri Jain Grover, while the other case involves the fintech giant attempting to recover shares from him. The media coverage of these events has led to Grover publicly criticizing the company and directing criticism towards the fintech startup’s board chairman, Rajnish Kumar.

Grover is diving into the lending technology realm amidst the surging popularity of fintech, fueled by increased digital access and the clamor for quick, small-scale loans.

In the ever-expanding landscape of healthcare financing, ZeroPe enters the ring alongside established names like HDFC Bank, Bajaj Finserve, Arogya Finance, and Hero FinCorp. It’s also stepping up to the plate against up-and-coming startups such as CASHe, Fibe, and Arogya Finance. By 2030, the Indian digital consumer lending market is expected to exceed $720 billion, accounting for over half of the total market opportunity of $1.3 trillion.

Ashneer Grover, after his tenure at BharatPe, embarks on a new fintech journey with ZeroPe, focusing on medical loans up to INR 5 Lakh through collaboration with Mukut Finvest. Amid legal conflicts with BharatPe, Grover’s entry aligns with the fintech surge. ZeroPe competes with established players like HDFC Bank and emerging startups. The Indian digital lending market is projected to surpass $720 billion by 2030, illustrating significant growth prospects for ZeroPe in the evolving financial technology landscape.