Missouri-based healthcare fintech Paytient announced it had secured $40.5 million in Series B funding, bringing the company’s total raise to $63 million. The funds include $33 million in equity from new and existing investors and $7.5 million in debt from Silicon Valley Bank, Mobi Health News reports.
Mercato Partners Traverse Fund led the round, with participation from Bertelsmann Investments. Mercato’s managing director, Joe Kaiser, is joining Paytient’s board of directors, and Bertelsmann’s Thorsten Wirkes is entering as an observer.
Existing investors included Left Lane Capital, Commerce Bank, Box Group, Felicis Ventures, Lightbank, Lachy Groom, Crossbeam Ventures, Inspired Capital and Cultivation Capital.
The funding will help the health payment accounts company increase growth and product development in 2023. Read more.
