Healthcare-focused fintech Scratch Financial picks up $35m Series C

Norwest Venture Partners led the round.

  • Other backers included Alumni Ventures, Companion Fund, Struck Capital, SWS Venture Capital and TTV Capital
  • The funding will be used to develop new technology
  • Based in Palo Alto, California, Norwest invest in early to later-stage companies in the U.S., India, and Israel

Scratch Financial, a Pasadena, California-based fintech company, has raised $35 million in Series C funding. Norwest Venture Partners led the round with participation from Alumni Ventures, Companion Fund, Struck Capital, SWS Venture Capital and TTV Capital.

The funding will be used to accelerate the 6-year-old company’s product development. Scratch gives healthcare consumers a way to finance their care. The company says it works with more than 12,000 partners that provide primary care, dental, vision/LASIK, chiropractic/physical therapy, dermatology/cosmetic surgery and veterinary services.

“Scratch is well positioned to lead the market by simplifying the patient experience and streamlining veterinary and medical practice needs through a platform that combines payments, care financing and intuitive SaaS tools,” said Ryan McDonald, a principal at Norwest Venture Partners, in a statement. “Not only does the leadership team have deep experience with disruptive fintech companies, they also understand the challenges that patients face when financing medical services — from convoluted processes and delays to multiple credit card or loan applications.”