PayZen Raises $220 Million Growth Round for Personalized Healthcare Affordability

The round is comprised of a $200 million credit facility and $20 million equity raise PayZen, the fintech company tackling healthcare affordability with personalized, no-cost patient financing solutions, has raised a $220 million growth round to strengthen its leadership position as it pioneers the new category of Affordability Financing. The round is composed of $20 million in equity financing and a $200 million credit facility. The oversubscribed equity component was led by 7wireVentures, while Viola Credit provided a $200 million warehouse credit facility to support continued market expansion. This latest investment round reflects the significant and rapidly accelerating industry demand for PayZen’s affordability financing platform since it was introduced last year. Since PayZen’s last round in November 2021, the healthcare-focused fintech company has doubled its revenue every month and expects its growth trajectory to continue due to expanding market need. PayZen will use the funds to scale its operations and product development as the interest in its platform continues to resonate with health systems seeking to address the payment challenges faced by their patients. PayZen has significantly expanded its existing warehouse facility to fuel the increasing demand for its products by healthcare providers. As nearly 1 in 10 adults carries significant medical debt in light of rising healthcare costs, this expansion enables the company to directly improve the financial we...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Revenue Cycle Management 7wireVentures Affordability Financing AllScripts Health IT Funding Health IT Fundings Health IT Investment Healthcare Costs IPO Itzik Cohen Lee Shapiro Link Ventures Livo Source Type: blogs