PayZen is a healthcare fintech startup tackling healthcare affordability by using financial technology, AI, and machine learning.
PayZen's mission is to offer patients convenient and affordable options to pay for their medical care and to be a valuable, trusted technology partner to medical providers.
PayZen was founded in 2019 by Itzik Cohen, Tobias Mezger and Ariel Rosenthal. The company is headquartered in San Francisco, California and Tel Aviv, Israel.
PayZen's embedded fintech solutions provide personalized, zero-cost payment options for healthcare consumers while strengthening revenue capture for healthcare providers.
PayZen's platform leverages data and AI to create individualised patient payment plans that families can afford. It then supplies them with the funds, regardless of their credit score.
Payzen also offers the Care Card, which it says is perfect for pre-service payment, pharmacy and recurring care scenarios. The company claims that hospitals using the technology have increased patients’ access to healthcare while improving patient collections by 30% to upwards of 50%.
PayZen is backed by 7wireVentures, Viola Credit, SignalFire, Link Ventures, Picus Capital, TWO39 Ventures, and others. The company raised $220M in new financing (a $20M Series B and a $200M in a warehouse credit facility) on Nov 16, 2022. This brings PayZen's total funding to $240M to date.