PayZen is a healthcare fintech company that using AI, machine learning, and financial technology tackles healthcare affordability. It is a mission-driven start-up that allows patients to pay their extra medical bills over time with transparency and convenience. At the same time, medical providers can focus on healthcare services instead of the financial part.
The funding consists of $20 million equity financing that was led by 7wireVentures, and a $200 million credit facility from Viola Credit. Money raised will be used for continued market expansion. “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,” Lee Shapiro, co-founder and managing partner at 7wireVentures.
PayZen, San Francisco, USA, was founded by Ariel Rosenthal, Itzik Cohen, and Tobias Mezger in 2019. In plans, the company wants to make no-cost payment, affordable, and personalized options available for all Americans, and to become the embedded finance platform of the healthcare industry. “Healthcare equity and affordability is a foundational problem in the U.S. Too many Americans have delayed or foregone getting the care,” Itzik Cohen, co-founder and CEO at PayZen.