Lynx Secures $27M Series A to Simplify Healthcare Payments and Administration

What You Should Know:

– Lynx, a leading fintech platform simplifying healthcare payments and administration, today announced the close of an oversubscribed $27 million Series A funding round, bringing its total funding to over $44 million since its inception in 2022.

– The round was 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: Transforming Healthcare Payments with Scalable, API-Driven Solutions

Lynx is an API-first fintech platform revolutionizing healthcare payments by enabling health plans, financial institutions, and benefits administrators to embed a comprehensive 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 across the industry.

With recent funding, Lynx aims to accelerate growth and expand its operations in several strategic areas:

·       Advancing Healthcare Benefits: Innovating in Medicare Advantage supplemental benefits, Medicaid value-added benefits, and Individual Coverage Health Reimbursement Arrangements (ICHRA).

·       Enhancing Compliance and Administration: Strengthening Consumer-Directed Health (CDH) account administration and compliance capabilities for health plans and financial institutions.

·       Developing API-Driven Solutions: Creating tailored, API-based products to streamline consumer experiences and operational workflows for benefits administrators and health plans.

Lynx’s unified platform spans the entire spectrum of healthcare payment types, including CDH accounts, Medicare Advantage supplemental benefits, Medicaid value-added benefits, and ICHRA. By addressing both established markets like CDH administration and emerging segments such as ICHRA and Medicare Advantage, Lynx offers a truly comprehensive solution for healthcare payment management.

Designed for customization and scalability, Lynx’s platform leverages a single API-first approach, allowing companies to rapidly build and deploy solutions such as:

·       CDH Accounts: Seamless administration and compliance support for financial institutions and health plans.

·       SKU-Restricted Payment Cards: Tailored solutions for Medicare Advantage supplemental benefits.

·       Custom OTC Storefronts: Fully integrated digital marketplaces for healthcare benefits.

The platform can be embedded within partner websites and applications via API while also offering customizable front-end experiences and mobile applications for marquee clients, including major health plans, financial institutions, and benefits administrators. Its ability to launch solutions in as little as 10 weeks underscores its efficiency and adaptability.

“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,” said Victor Lanio, Partner at Flare Capital Partners. “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.”