The financing was broken down into $33 million in equity from new and existing investors and $7.5 million in debt financing from Silicon Valley Bank. Paytient’s healthcare payment accounts work to provide patients with an interest-free Visa card and an app that allows for flexible payment plans, according to a Jan. 10 Paytient news release.
The funding round brings the company’s total to $63 million.
“Fundamentally, we believe the healthcare journey deserves its own financial products that enable equitable access to care,” Paytient co-founder and CEO Brian Whorley said. “Our platform gives patients the power to control when and how they pay medical expenses in a way that’s good for their own wellbeing, and as historic inflation grips the market, this is solving an urgent need for employers and providers, too.”
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