PayZen, a financial technology company focusing on patient financing, has raised $220 million in a growth round.
The financing is composed of $20 million in equity financing and a $200 million credit facility. PayZen will use the capital to scale its operations and for product development, according to a Nov. 22 PayZen news release.
7wireVentures led the equity financing and Viola Credit provided the $200 million credit facility.
"Healthcare equity and affordability is a foundational problem in the U.S. Too many Americans have delayed or foregone getting the care they need because they aren't offered an affordable way to pay," PayZen co-founder and CEO Itzik Cohen said. "At PayZen, we're determined to help fix this broken system."