New Delhi, April 12 (IANS): BharatPe co-founder and former MD Ashneer Grover is set to launch a new app called 'ZeroPe' that will provide loans for healthcare.

According to the apps' Google Play Store listing, ZeroPe is presently in the testing phase and has been developed by Third Unicorn, which was founded by Grover after his exit from BharatPe.

The app will provide instant pre-approved medical loans of up to Rs 5 lakh to users to cover their medical expenses.

The company has partnered with Delhi-based Non-Banking Financial Company (NBFC) Mukut Finvest to provide instant loans. Users can only avail the service at partnered hospitals, according to the ZeroPe app website.

To apply for a medical loan with ZeroPe, users will need to download the app, complete a quick application, and then they will receive instant loan approval.

"ZeroPe ensures a straightforward process by directly paying the approved loan amount on behalf of the user to the chosen hospital," ZeroPe wrote on its website.

Grover, along with his wife Madhuri Jain Grover and entrepreneur Aseem Ghavri, launched Third Unicorn in January 2023.

The company started out with CrickPe in order to compete with Dream11, Mobile Premier League (MPL) and My11Circle.