Participated · Series B · Jan 2023

Paytient provides employer- or health plan-embedded payment solutions that members use to pay out-of-pocket medical, dental, vision, pharmacy, and veterinary expenses. Founded and led by CEO Brian Whorley, the company is based in Columbia, MO. It serves over 23 million members and partners with nearly 7,000 employers, insurers and providers. The company received $40M from Trinity Capital. Paytient intends to use the funds to support expansion into large group employer-sponsored plans, alternative health plans, the ACA marketplace, and Medicare. The article does not specify the financing instrument or terms. Paytient offers Health Payment Accounts (HPAs), a sponsored benefit that gives members access to interest-free credit through a Paytient Visa card and an app to manage and organize healthcare spending. Members activate the card with no credit check; when used, Paytient pays providers in full and members set flexible, interest-free repayment plans funded by payroll deduction, a bank account, or HSA/FSA accounts. Card sponsors are not responsible for unpaid balances. The company partners with hundreds of employers, insurers, and healthcare providers and today has nearly 700 enterprise partners, including Centene, Cigna, Coupe Health, Beta Health, and R.R. Donnelley. Led by CEO Brian Whorley and based in Columbia, Missouri, Paytient intends to use new funding to scale growth and product development in 2023 and beyond. The company raised $40.5M in Series B financing (comprised of $33M equity and $7.5M debt).