“Care now, pay later”: medical care fintech Scratch raises $35m Series C
California-based medical and patient care fintech Scratch Financial has raised $35 million in a Series C funding round.
The round was led by Norwest Venture Partners and saw participation from Alumni Ventures, Companion Fund, Struck Capital, SWS Venture Capital and TTV Capital, among others.
Founded in 2016, Scratch offers a “care now, pay later” payment model to help pet owners and patients across the US and Canada cover the cost of medical care.
With more than 10,000 veterinary and medical care practices using Scratch’s payment and financing tools, the company says it is on track to process nearly $1 billion worth of patient payments by the end of this year.
The new funding will be used to create new products and accelerate the development of technology designed to connect medical providers with clients to provide an end-to-end patient experience.
Scratch CEO John Keatley says: “Financial inclusion has always been a goal for our company—helping connect more people with transparent and personalised financing options to get the care they need for themselves or their loved ones.”