- Funding News: Panacea Financial secures $24.5 million in a Series B funding round.
- Investor Spotlight: Valar Ventures serves as the exclusive institutional investor for this funding round.
- Expansion Plans: The capital will be utilized to enhance Panacea’s suite of services, including loans, banking, and insurance, with a focus on technology and healthcare.
- Team Growth: The company aims to expand its team, emphasizing expertise in technology, financial services, and healthcare.
- Medical Focus: Panacea Financial, operating under Primis Bank, caters specifically to medical practitioners in the US.
- Strategic Vision: CEO Tyler Stafford envisions a diversified suite of financial products, targeting a comprehensive presence in the broader healthcare industry.
- Digital Initiatives: Panacea Financial has a history of embracing digital initiatives, including recent partnerships with Bankjoy and the appointment of a new CTO, Ryan Gorney.
- Collaborations: The company previously collaborated with banking tech provider Bankjoy, integrating its digital banking platform with Fiserv’s Communicator Open.
