Lynx, a fintech platform simplifying healthcare payments and administration, announced the close of a $27 million Series A round, bringing its total funding to more than $44 million since its launch in 2022.
The investment round was reportedly led by Flare Capital Partners, with participation from CVS Health Ventures, McKesson Ventures, and existing investors .406 Ventures, Obvious Ventures, and Frist Cressey Ventures.
Lynx int4ends to use the funding to scale operations and accelerate Lynx’s growth in the these areas:
- Innovating in Medicare Advantage supplemental benefits, Medicaid value-added benefits, and ICHRA
- Enhancing Consumer – Directed Health (CDH) account administration and compliance capabilities for health plans and financial institutions
- Developing tailored, API-driven products to streamline the consumer experience and operations for benefits administrators and health plans
Victor Lanio, Partner at Flare Capital Partners said:
“In a fragmented healthcare payments landscape, Lynx is the only platform that supports all healthcare payment types and use cases-from large, established markets like CDH administration to emerging markets like ICHRA and Medicare Advantage supplemental benefits. This oversubscribed round is a testament to Lynx’s exceptional traction, visionary leadership, and the growing demand for a truly unified solution. We look forward to being a part of the Lynx story as they continue redefining the healthcare payment and administration space.”
Lynx’s platform spans the spectrum of “healthcare payment types-from CDH accounts to Medicare Advantage supplemental benefits, Medicaid value-added benefits, and Individual Coverage Health Reimbursement Arrangements (ICHRA).”
Matthew Renfro, Co-Founder & CEO of Lynx said:
“We’ve addressed critical challenges for major health plans, such as preventing January 1st debit card outages in Medicare Advantage programs, and enabling leading technology platforms managing consumer-directed health accounts to introduce unmatched flexibility and configurability to their platforms.”
Lynx’s platform is designed for “customization and scalability.”
It leverages a single API-first approach, “enabling companies to build and launch solutions such as CDH accounts, SKU-restricted payment cards for Medicare Advantage, and custom OTC storefronts in as little as 10 weeks.”
The platform can be fully embedded within partner websites and applications via API, while also “offering customizable front-end experiences and mobile applications for marquee clients, including large health plans, financial institutions, and benefits administrators.”
Timed with the investment, Victor Lanio, a Partner at Flare Capital Partners, will join Lynx’s board.
Lynx is an API-first fintech improving healthcare payments.
It enables health plans, financial institutions, and benefits administrators to embed a “suite of healthcare financial accounts and services into their existing user experiences.”
With a focus on innovation, scalability, and seamless integration, Lynx is redefining “how healthcare payments are managed.”