• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

3v.org

Venture Capital Matters

  • Pitch a Startup
    • Make a Contribution
  • Startup Jobs
  • Market Reports
  • Technologies
    • Technology Events
  • Domain Names for Startups
  • About
    • How to raise venture capital
    • How to raise seed funding from angel investors
    • How private equity and venture capital firms operate
    • What is the difference between private equity and VC funding?
    • What technology trends are considered hot among VC firms?
    • What is elevator pitch?
    • What is startup burn rate?
    • Does failure to launch a startup spell the end of the entrepreneur’s ambitions?
    • How to avoid pitfalls in founding a startup
    • Why do startups fail?
    • What are the traits of successful startup founder?
    • What are startup vanity metrics?
    • Why investing in the next generation of women and diverse entrepreneurs is a crucial part to the success of the tech infrastructure
    • Where are VCs seeing opportunity
    • How do startup valuations work?
    • What is startup accelerator?
    • How to scale an early-stage startup team, how much to pay and how to distribute equity
    • Don’t mix business with friendship: when it comes to building a founding team for a startup, this adage may not always apply
    • What is a social unicorn?
    • Secure Your Startup’s Future: The Importance of Succession Planning
  • Contact

PayZen Raises $220 Million Growth Round for Personalized Healthcare Affordability

November 22, 2022 By admin Leave a Comment

The round is comprised of a $200 million credit facility and $20 million equity raise

SAN FRANCISCO – 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.

“PayZen is directly aligned with our beliefs at 7wireVentures in the importance of using technology-enabled services to resolve the hassles consumer face in accessing health and care. We are honored to work with this great team on this important mission.”

Tweet this
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 well-being of millions of U.S. healthcare consumers in a significant way.

“This exciting round is a testament to PayZen’s product innovation and the immense need for more affordable payment options for patients who are trying to pay their medical bills,” said Itzik Cohen, co-founder and CEO at PayZen. “Healthcare equity and affordability is a foundational problem in the U.S. Too many Americans have delayed or foregone getting the care they need because they aren’t offered an affordable way to pay. At PayZen, we’re determined to help fix this broken system.”

7wireVentures (an established heavy-hitter in health-tech venture capital investments), Viola Group (a leading technology-focused investment group), and SignalFire (the first venture capital firm built from the ground up as a technology company) are expanding on their original investment after participating in PayZen’s Series A round last year. All other current investors also participated, including Link Ventures and Picus Capital. As part of the latest round, Lee Shapiro, co-founder and managing partner at 7wireVentures, will join PayZen’s board. Shapiro has more than 20 years of experience in the healthcare space including as President of Allscripts, and most recently as CFO of Livongo which he helped steer from launch through IPO and an $18.5 billion merger in 2020.

“With medical debt being the leading cause of bankruptcies in the U.S., and with so many people without the cash available to meet emergent health needs, there is a pressing need for a solution to address this challenge,” said Shapiro. “PayZen is directly aligned with our beliefs at 7wireVentures in the importance of using technology-enabled services to resolve the hassles consumer face in accessing health and care. We are honored to work with this great team on this important mission.”

Looking ahead to 2023, PayZen will accelerate its mission to make personalized, affordable, no-cost payment options available to all Americans, building on its technology lead to become the embedded finance platform of the healthcare industry. Hospitals and health systems that want to improve their revenue and cash flow while offering patients more affordable payment options should reach out to PayZen.

For more information, please visit: www.payzen.com.

About PayZen
PayZen is a mission-driven healthcare fintech company that aims to tackle the growing patient payment responsibility problem with superior technology and a modern approach. PayZen is backed by leading equity and credit capital investors and is led by proven technology veterans with a successful track record of helping millions of Americans overcome financial struggles.

About 7wireVentures
7wireVentures is one of the country’s leading venture capital firms investing in early-stage digital health companies supporting an “Informed Connected Health Consumer” – the epicenter of a consumer-first, tech-enabled convergence of the health and care markets. Fund successes, such as founding Livongo, are due in large part because the team includes both seasoned operators and investors with extensive industry experience. Being highly selective with investments, the fund works side-by-side with founders to build companies that change the status quo and empower consumers to be better stewards of their health. As company builders, the 7wire team has assumed highly involved roles, in some cases, even pursuing a Hatch strategy to start promising new ventures. Visit www.7wireventures.com.

About Viola Group
Viola is Israel’s leading technology oriented investment group with over $2.8B assets under management. The group provides long term world-class returns by identifying and pursuing attractive investment strategies across all stages in the vibrant Israeli technology and industry market.

It is comprised of focused separate investment arms, including: Viola Ventures – a technology focused early stage investment fund with over $1B AUM, Viola Growth – technology focused growth capital fund with $440M under management; and Viola Credit – the debt arm with $600M under management as well as other dedicated vehicles. Each partnership operates independently with a dedicated investment team and different investors, pool of funds, and portfolio companies, but share access to added value services that provide entrepreneurs the edge they need to succeed in the global arena.

Founded in 2000, Viola’s team includes over 30 investment professionals and 40 support staff, and has invested in over 200 technology companies.

Filed Under: News Tagged With: healthcare, personalization

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Market Analysis

DevOps and Agile: Integrating Development and Operations
China’s Use of Golden Shares: From Reducing State Role to Quietly Controlling Tech Giants
Why Amazon Acquired One Medical: Disrupting the Healthcare Industry with Technology-Enabled Care
The End of an Era: Why China is No Longer Viable as the World’s Factory
Cloudflare’s FedRAMP authorization opens up a huge market opportunity in the US government sector
Datadog’s strong financial results for the fourth quarter and fiscal year 2022 provide a solid case for a Buy recommendation
Cisco: Struggling to find new avenues of growth

Market Research Media

Agile Leadership: Leading Agile Teams for Success
Chinese Brands Reach New Heights of Popularity in the West Amid Growing Political Tensions
Unrestricted Streaming: How VPNs Can Enhance Media Consumption Experience
How the world’s biggest companies have built and defended their moats
Virtual Learning Environments: A Game-Changer in Education?
Streaming video, training, and gaming coming together to form a cohesive and diverse media and entertainment ecosystem
Turn Your Story into a Game: The Art of Gamifying Your Plot

Secondary Sidebar

Technologies

AI Developer
Nvidia’s Lead in AI: Disrupting the Tech Industry
Canva Launches Brand Management Features and AI-Powered Design Tools to Empower Creatives and Professionals
Cloudflare Enters Fraud Detection Market with Cloudflare Fraud Detection
Devices utilizing Wi-Fi HaLow technology are gaining momentum

Tech Events

The Yugabyte’s third annual Distributed SQL Summit (DSS) Asia, March 28, 2023
NVIDIA GTC, a global conference for the era of AI and the metaverse, March 20-23, 2023
Splash User Conference and Partner Summit will take place from April 17 to 20, 2023 in Washington, D.C.
Fiber Connect 2023, August 20-23 2023, Orlando, Florida
International Battery Seminar & Exhibit (IBSE) on March 20-23, 2023 in Orlando, FL

Footer

Recent Posts

  • African Venture Investment Soars to Record High, Fueled by Tech Startups
  • Pitchly Secures $7 Million Series A Funding for SaaS-Based Data Enablement Solution
  • Agile Project Management: Roles and Responsibilities
  • Candidly, a student debt and savings optimization platform, has raised $20.5 million in a Series B round of financing
  • GameTech Startups Attracting Venture Capital Funding: The Importance of VPN Security
  • Spreetail Secures $208M Funding to Enhance Ecommerce Acceleration Capabilities
  • Metomic secures $20 million in Series A funding to expand its SaaS data security solution in the US
  • The Texas A&M University System is set to create a boom in startups
  • Goose Insurance Services, a Vancouver-based insurance technology company, has recently closed a $4 million Series A funding round
  • Smile Identity, the leading identity verification platform in Africa, has raised $20 million in its Series B funding round

Dossier

Agile Coaching: The Key to Successful Agile Implementation
GameTech 2023, GameDev Conference, March 3, 2023
AI is Disrupting Software: Key Takeaways from Tech Summit 2023
indie Semiconductor has entered into a definitive agreement to purchase GEO Semiconductor
Why UK faces chronic labor shortages

Press Media Release

Webinar: Agile Software Development Metrics and Measurement
VPN Workshop Program Offers Comprehensive Training on VPN Technology
New Technology Job Board Launches to Connect Job Seekers with Top Employers
Media Release: Israelis Protest Proposed Judicial Reforms Amid Knesset Debate
S3H.com to Showcase Cutting-Edge Technology at MWC Barcelona 2023

App Coding

Common Pitfalls in Agile Development and How to Avoid Them
How Much Does It Cost to Build a FinTech App?
The annual GameTech Market 2023 is back and better than ever!
Appy Pie Introduces AI App Generator to Expedite App Development Process
Understanding Data Structures and Algorithms

API Coding

Building More Resilient APIs through Negative Testing
API governance is essential for ensuring the secure and reliable use of APIs
How to re-write a legacy API
How to Build API in Next.js
API Hub for Business Allowing Companies to Launch Custom Hubs in Minutes

Copyright © 2022 3v.org

Technologies, Market Analysis & Market Research and Exclusive Domains

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT