Panacea Financial operates a vertically integrated fintech platform built specifically for doctors and doctor-owned practices, spanning banking, lending, legal, and advisory services. Since launching in November 2020, the company has processed more than $2 billion in loan applications and expects to surpass $1 billion in funded loans by 2025. Panacea emphasizes specialty-focused underwriting and reports average annual net charge-offs of just 0.3% since inception. The company uses a proprietary, AI-powered credit decisioning platform and has built in-house tools such as a Digital Account Opening product on its fiSense platform that lets physicians, dentists, and veterinarians open and fund accounts in under three minutes. Panacea says it will use new capital to expand its vertically integrated digital platform and accelerate development of intelligent, data-driven tools to personalize and streamline financial decisions for doctors. The business positions itself as a financial operating system for doctors, aiming to cover needs from student loans through practice ownership. Panacea Financial offers a focused financial platform and financing products for doctors and medical practices, aiming to integrate banking and financial services with healthcare expertise. The company plans to expand its technology, financial services, and healthcare teams and to introduce new products and services to build a more comprehensive, integrated platform for the doctor community. Launched in November 2020 and described as doctor-founded, Panacea has served thousands of doctors and their practices and operates a nonprofit arm that has provided more than $200,000 in scholarships and grants. Financially, Panacea reported it became profitable on a GAAP basis for full-year 2023, more than doubled revenues in the past year, and maintained excellent credit quality. Since launch the company has provided more than $450 million in total financing to doctors and practices and is the preferred financial services partner for 20 national and state medical, dental, and veterinary associations representing approximately 40% of active U.S. doctors. The funding is intended to support its goal of becoming the preferred financial services company for doctors nationwide.

Total raised

$62M

Funding rounds

2

Latest round

Series B

Latest activity

Jul 2025