Scratch Financial, a Los Angeles, CA-based affected person financing firm, raised $35M in Sequence C funding.
The spherical was led by Norwest Enterprise Companions, with participation from Alumni Ventures, Companion Fund, Struck Capital, SWS Enterprise Capital, and TTV Capital.
The corporate intends to make use of the funds to speed up the event of recent expertise to assist medical suppliers join with their purchasers and handle the end-to-end affected person expertise.
Led by CEO John Keatley, Scratch is a monetary expertise firm connecting sufferers and medical practices within the care now, pay later financial system. Medical practices of each measurement, from impartial practices to giant enterprises, use the platform to operationalize funds and higher hook up with sufferers.
Scratch was based in 2016 with a “care now, pay later” product, Scratchpay, to assist pet house owners cowl the price of pet care and to assist veterinary well being suppliers develop revenues and cut back accounts receivable. The corporate has coated the price of healthcare for tons of of 1000’s of sufferers and pet house owners by means of its easy, pleasant fee plans and now companions with 1 in 3 veterinary practices throughout the U.S. and Canada. Constructing on success in veterinary affected person financing, the corporate expanded its scope in 2020 to help a rising variety of human elective medical suppliers, together with dental, optical and chiropractic care providers. Via its platform of lending, funds and communications merchandise, Scratch helps omnichannel fee processing and cloud-based level of sale.
Greater than 10,000 practices use its fee and financing instruments, and the corporate is on observe to have processed almost $1 billion of affected person funds by the tip of 2022.