Indonesia-based healthcare company Bumame and India-based education loan provider Lorien Finance have bagged pre-Series A funding.
Bumame raises pre-Series A round led by Alpha JWC Ventures
Indonesian healthcare player Bumame has announced a pre-Series A funding round for an undisclosed amount, led by Alpha JWC Ventures, with additional backing from 500 Global and Kopital Ventures.
Founded during the pandemic in 2020, Bumame initially provided accessible and reliable COVID-19 testing for millions of Indonesians. Now, the company has expanded its services to address broader healthcare needs through innovation and technology by offering a comprehensive range of healthcare solutions, from routine check-ups and advanced diagnostics to personalised health plans that help individuals lead healthier lives.
The new funding will accelerate Bumame’s digital transformation and enable the expansion of its healthcare offerings.
“Our work during the pandemic built a strong foundation of trust, and this funding allows us to go even further. We aim to be more than just a healthcare provider — we strive to be a lifelong health partner for every Indonesian, promoting a culture of proactive and preventive care,” James Wihardja, co-founder & CEO of Bumame, said in a statement.
Lorien Finance bags $2.25m pre-Series A funding led by FlatIronX
Education loan provider Lorien Finance has raised $2.25 million in a pre-Series A funding round led by US-based early-stage VC firm FlatIronX. Seedstars International Ventures, Ahimsa Capital, Play Holdings, and other investors also participated in the round.
The company plans to use the capital to expand its student loan services to Tier 2 and Tier 3 cities in India and to Southeast Asian countries next year, providing financing solutions like tuition support, flexible repayment plans, and scholarships.
Founded by Nikhil Mudgal, the company provides education loans to Indian students for studying abroad in 195 countries. It has served more than 1,000 students since its inception and has more than 15 Indian and global lenders as partners offering secured and unsecured loans, with interest rates starting 3.47%.
The number of Indian students travelling abroad for education increased to 7.5 lakh in FY2023 from 2.6 lakh in FY2021. More than 90% of education loans in India are used for education abroad, with the US and Canada being the top choices among most Indian students, according to a report by fintech firm Propelld.
