A $232 million Series B fundraising round was secured by PayZen, a San Francisco, California and Israel-based finance technology business that uses AI-powered solutions to address healthcare affordability.
Leading the round was NEA, with participation from 7wireVentures, SignalFire, Viola Ventures, and other current investors.
The money will be used by the business to grow and expand into other markets.
PayZen is a mission-driven healthcare fintech startup led by CEO Itzik Cohen. Its goal is to use technology and a cutting-edge methodology to address the issue of patient payment responsibility.
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By utilising exclusive AI/ML models, automation, and integration with EMR/EHR systems, it facilitates millions of patients’ access to and affordability of the necessary care while streamlining the patient payment process for health systems.
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In the past two years, PayZen has grown at a staggering 6 times the annual rate. Additionally, it claims 132% net retention and 100% client retention.
About PayZen
PayZen, medical providers use a fintech platform that integrates with revenue cycle systems and requires no additional staff. Accelerated non-recourse and recourse cash flow and 30–50% higher collections rates benefit providers. PayZen addresses healthcare inequalities by addressing payment affordability. The Platform employs Affordability Financing to improve customer experience and offer patients free medical bill management choices
