Total amount raised
$62.9 Million
Latest funding date
01/01/2023
Location
Paytient has successfully raised funds through seven rounds, with the latest being a Series C round. The company is backed by 19 investors, including Pathlight Ventures and Trinity Capital.
Keep reading to explore the intricacies of Paytient's fundraising journey and the investors backing this innovative platform.
What Is Paytient?
Paytient is a private company based in Columbia, Missouri, that operates in the Employee Benefits, FinTech, Health Care, and Payments industries. The company has between 101-250 employees.
Paytient helps people make better healthcare decisions by improving their ability to pay for care. The company partners with employers, insurers, and health systems to offer financial solutions that allow employees to manage healthcare costs over time without interest or fees.
How Much Funding Has Paytient Raised?
- Pre-seed
- Amount Raised: USD 1,300,000
- Date: June 2019
- Lead Investors: Cultivation Capital, Lightbank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and product development.
- Seed
- Amount Raised: USD 3,900,000
- Date: October 2020
- Lead Investors: Inspired Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and expand the company's offerings.
- Series A
- Amount Raised: USD 17,200,000
- Date: July 2021
- Lead Investors: Inspired Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's product offerings and market reach.
- Series B
- Amount Raised: USD 33,000,000
- Date: January 2023
- Lead Investors: Mercato Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale growth and product development.
- Debt Financing
- Amount Raised: USD 7,500,000
- Date: January 2023
- Lead Investors: Silicon Valley Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's financial operations and growth.
- Series C
- Amount Raised: USD 40,000,000
- Date: June 2025
- Lead Investors: Trinity Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the company's growth and enhance product offerings.
Total Amount Raised: USD 102,900,000. Current Valuation: Not publicly disclosed.
Key Investors
- Mercato Partners Traverse Fund
- Details: Mercato Partners Traverse Fund is a Utah-based investment fund. Joe Kaiser, managing director, joins Paytient’s board of directors.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Cradlepoint, Stance, Sphero
- Bertelsmann Investments
- Details: Bertelsmann Investments is the investment arm of Bertelsmann, a global media, services, and education company. Thorsten Wirkes joins Paytient’s board as an observer.
- Investment Focus Areas: Media, services, education, healthcare, technology
- Notable Investments: Udacity, Relias Learning, HotChalk
- Inspired Capital
- Details: Inspired Capital is a venture capital firm that led Paytient’s Seed and Series A rounds. The firm focuses on early-stage technology companies.
- Investment Focus Areas: Technology
- Notable Investments: Chief, Orum, Finix
- Lightbank
- Details: Lightbank is a venture capital firm known for investing in disruptive technology companies. It is an existing investor in Paytient.
- Investment Focus Areas: Disruptive technology
- Notable Investments: Groupon, Tempus, Udemy
- Felicis Ventures
- Details: Felicis Ventures is a venture capital firm that focuses on technology and healthcare sectors. It is an existing investor in Paytient.
- Investment Focus Areas: Technology, healthcare
- Notable Investments: Plaid, Shopify, Fitbit
What's Next for Paytient?
Paytient stands at the cusp of significant growth opportunities, driven by the increasing need for affordable healthcare payment solutions. With a recent infusion of $40.5 million, the company is poised to expand its health payment accounts offering, partnering with more employers and insurers to provide interest-free credit for healthcare costs. This expansion could potentially reach millions of Americans struggling with out-of-pocket healthcare expenses.
Future fundraising opportunities appear promising as the demand for flexible payment plans continues to rise. The company's ability to attract high-profile investors suggests that additional funding rounds are likely, enabling further scaling and product development. However, Paytient will need to navigate challenges such as competition from other fintech solutions and ensuring compliance with regulatory requirements. Despite these hurdles, the company's proactive approach to healthcare cost management positions it well for continued success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Paytient and gather other critical business insights. Sign up for free to start transforming your sales strategy today.
