Lynx, a payment, banking and e-commerce platform for the healthcare industry, has secured a total of $17.5million in equity financing.
A recent Series A funding round drew in $15million, whilst a previously unannounced seed round of £2.5million also adds to this figure.
“We see a massive opportunity in bringing modern fintech solutions to healthcare,” said Liam Donohue, managing partner and co-founder of .406 Ventures; a leading firm in the Series A funding round.
“The Lynx team’s combination of industry experience, technical expertise [and] vision…positions them to deliver new solutions that concurrently improve people’s health and financial security.”
The Lynx platform enables any enterprise that touches healthcare payments, including health plans, health systems, payroll providers, benefits administrators, and digital health companies.
By embedding its fintech solution, consumers can improve affordability, drive health engagement and enhance financial security for end customers and patients.
“Lynx enables companies to engage their customers in a way that drives net promoter scores (NPS) up and brings costs down,” states Vishal Vasishth, co-founder and managing director of Obvious Ventures; another leading firm in Series A.
“Lynx is poised to be a step-change platform for payers, health systems, benefits administrators and consumers alike.”
Other investors include Frist Cressey Ventures, Winter Street Ventures (Commonwealth Care Alliance), Shields Capital and Huntington Avenue Ventures.
The platform offers real-time processing and data analytics, cybersecurity and regulatory infrastructure, and customer support facilities.
“With Lynx, organisations will no longer need to juggle and integrate with multiple partners in order to serve all of their customer segments – commercial, Medicare, and Medicaid,” added Ken Abel, Lynx’s co-founder and CIO.
“We handle all the hard stuff across a variety of financial accounts: cloud architecture, data model, data analytics, card production, payment processing, customer support, and banking and healthcare regulatory demands, including compliance and data security.”