Panacea Financial has extended its Series B round, securing an additional $37 million from Valar Ventures, bringing the total Series B to $62 million. The investment underscores strong investor confidence in Panacea’s doctor-centric financial platform and marks one of the largest fintech investments into a healthcare-specialized lender.
Valar Ventures, a global fintech venture capital firm known for backing companies like Wise, N26, and BlockFi, has now invested $62 million in equity in Panacea.
Panacea was founded to solve financial challenges that doctors routinely face but traditional banks often fail to address — from student debt burdens to delayed income streams. With a platform created by doctors for doctors, Panacea provides tailored banking, lending, and advisory services designed around the unique realities of medical professionals.
“We’re not just building better financial solutions for doctors – we’re building the financial operating system for doctors,” said Tyler Stafford, CFA, CEO and Co-founder of Panacea Financial.
The new capital will support Panacea’s expansion of its fully integrated digital platform, which already includes banking, lending, legal, and advisory services. The company also plans to accelerate the development of intelligent, data-driven tools to help doctors make more personalized and efficient financial decisions.
One example of this innovation is Panacea’s recently launched Digital Account Opening tool, built in-house on its proprietary fiSense platform. This software enables doctors to open and fund accounts from their mobile devices in under three minutes — addressing both their tight schedules and specialized financial needs.
Since its launch in November 2020, Panacea has processed over $2 billion in loan applications and expects to surpass $1 billion in funded loans by 2025. Its underwriting model has delivered strong performance, with average annual net charge-offs of just 0.3%, significantly outperforming traditional lenders.
“What started as a simple idea to help our community has now delivered real value to thousands of doctors and their practices,” said Michael Jerkins, MD, M.Ed, President and Co-founder of Panacea Financial. “But now we are building something much bigger – a complete financial platform solely designed to give doctors the tools they need to succeed.”
Panacea’s team combines medical and financial expertise to deliver efficient, specialty-focused solutions and aims to become the go-to financial partner for doctors and their practices nationwide.
Valar Ventures has consistently backed Panacea through multiple funding rounds, citing its disciplined growth and clear vision.
“Panacea is the leader in financial services for doctors and practice finance,” said Andrew McCormack of Valar Ventures. “We have led multiple funding rounds in the Company; this reflects the strong conviction we have in their vision and their ability to execute.”
