TLDR:
- Fintech company Panacea has raised $24.5 million in Series B funding to support its growth among the doctor community.
- The funding will be used to expand Panacea’s team of professionals, improve its financial platform, and fuel its strategic expansion plans.
Fintech company Panacea has secured $24.5 million in Series B funding to drive its strategic growth and expand its reach among the doctor community. Panacea specializes in providing financial options to doctors and medical practices and aims to develop a widely diversified suite of financial products and services for the healthcare industry. The funding will allow Panacea to expand its team of professionals and provide doctors with an updated and integrated financial platform.
Panacea, which was launched in 2020, has experienced significant growth since achieving profitability for the first time in FY2023. The company has provided over $450 million in financing to doctors and their practices and has become the preferred partner for numerous medical, dental, and veterinary associations in the US. With the new funding and sustainable growth, Panacea aims to become the preferred financial services company for the majority of US doctors.
Lead investor Valar Ventures believes in Panacea’s ability to transform financial services for healthcare professionals using technology. The investment showcases Valar Ventures’ excitement about Panacea’s blend of healthcare knowledge and technical skills in serving doctors. Panacea’s impressive growth and market share in the US healthcare and finance industries position it as a key player in the fintech sector.
