Silicon Valley Bank backs healthcare payment company's $40.5M funding round

Paytient, a healthcare finance company and creator of healthcare payment accounts, raised $40.5 million in series B financing.

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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