Lynx Launches with $ 17.5M for API-Connected Healthcare Payments


What You Should Know:

Lynxa Boston-based API-connected healthcare payments, banking, and e-commerce platform announced today that it has emerged from stealth with $ 17.5M in equity financing led by Obvious Ventures and .406 Ventures with participation from Frist Cressey Ventures. Other investors include Winter Street Ventures (an investment subsidiary of Commonwealth Care Alliance), Shields Capitaland Huntington Avenue Ventures.

– Lynx’s goal is to introduce modern fintech to healthcare, aiming to connect health and finance for all Americans.

Introducing Modern Fintech to Healthcare

Lynx was co-founded by Matt Renfro (CEO) and Ken Abel (CIO) to close the gap between health and finance for all Americans. Renfro, Abel, and the broader Lynx team previously held senior executive roles at top healthcare, financial services, and payment organizations, including Optum, UnitedHealthcare, Fidelity Investments, and American Express.

The Lynx platform enables any enterprise that touches healthcare payments, including health plans, health systems, payroll providers, benefit administrators, and digital health companies, to embed customizable and integrated health-fintech solutions that improve affordability, drive health engagement, and enhance financial security for end customers and patients.

“With Lynx, organizations 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.”

Source link