AR-based Panacea Financial secures $24.5M in series B round funding. Valar Ventures led the funding round.
The company intends to provide new goods and services, expand its staff of healthcare, technology, and financial specialists, and offer an integrated financial platform to the medical community with the help of the funding.
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Panacea Financial is a financial technology firm founded by Michael Jerkins, MD, M.Ed., Ned Palmer, MD, MPH, and Tyler Stafford, CFA. Its mission is to support doctors, dentists, and veterinarians at every step of their education and career by offering financial services.
Over the course of the previous year, Panacea has maintained credit quality, more than doubled its sales, and given physicians and their offices over $450 million in financing.
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The organisation is committed to increasing racial and ethnic diversity in the medical industry, and through its charity arm, the Panacea Financial Foundation, it offers more than $200K in grants and scholarships to underrepresented minority medical students, residents, and fellows.
CEO Tyler Stafford said: ”Our goal is to build a widely diversified and deeply integrated suite of financial products and services for doctors, their practices, and ultimately the broader healthcare industry. We chose Valar Ventures as our partner to help achieve this goal given their unmatched experience helping neobanks and fintechs significantly scale across the globe. I am incredibly proud of what our team has built so far, but I feel like we are just getting started.”
About Panacea Financial
Panacea Financial Foundation Encouraging the Upcoming Medical Generation. By bolstering the pipeline of underrepresented minority physicians, they hope to improve medicine. Motivated by their dedication to offer monetary assistance, they utilise their extensive medical clientele to propel the upcoming wave of healthcare.
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