{"id":2869,"date":"2022-09-21T09:55:19","date_gmt":"2022-09-21T09:55:19","guid":{"rendered":"https:\/\/regtechafrica.com\/healthcare\/?p=2869"},"modified":"2022-09-29T19:27:02","modified_gmt":"2022-09-29T19:27:02","slug":"global-scratch-gets-35m-funding-toward-care-now-pay-later-patient-financing","status":"publish","type":"post","link":"https:\/\/regtechafrica.com\/healthcare\/global-scratch-gets-35m-funding-toward-care-now-pay-later-patient-financing\/","title":{"rendered":"Scratch Gets $35M Funding Toward ‘Care Now, Pay Later’ Patient Financing"},"content":{"rendered":"

Scratch Financial, which offers patient financing for veterinary and human healthcare, has announced a $35 million Series C funding round, which will go toward developing more technology for medical providers, a\u00a0press release<\/a>\u00a0said Tuesday (Sept. 20).<\/p>\n

The new tech will help providers \u201cbetter connect with clients and manage the end-to-end patient experience.\u201d<\/p>\n

Los Angeles-based Scratch was founded in 2016 with Scratchpay, a \u201ccare now, pay later\u201d product which helped pet owners afford pet care while allowing veterinary health providers to grow revenues and reduce accounts receivable.<\/p>\n

The company expanded its services in 2020 to support more human elective medical providers like dental, optical and chiropractic services. The company supports omnichannel payment processing and cloud-based point of sale.<\/p>\n

\u201cFinancial inclusion has always been a goal for our company \u2014 helping connect more people with transparent and personalized financing options to get the care they need for themselves or their loved ones,\u201d said John Keatley, co-founder and CEO of Scratch. \u201cThis new funding will be instrumental in helping us create new products and better experiences to redefine the end-to-end patient experience.\u201d<\/p>\n

There have been other innovations for pet products lately, including Chewy\u2019s recent promotion of the growth opportunities for its pet health offerings.<\/p>\n

Chewy CEO Sumit Singh said on a call with investors that the company was expanding its CarePlus wellness and insurance program, and Practice Hub, an eCommerce solution for veterinary practices.<\/p>\n

CarePlus was launched in two states in June and is now available in 31 states, with a nationwide rollout by the end of the year. Singh said the company was trying to \u201citerate and learn\u201d what it can in the space.<\/p>\n

Practice Hub was rolled out in 2021 and has grown from 300 practices in March to 1,000, letting vets create, approve and manage medications and diet prescriptions in the same place, earning recurring revenue when the customers buy from the company website.<\/p>\n","protected":false},"excerpt":{"rendered":"

Scratch Financial, which offers patient financing for veterinary and human healthcare, has announced a $35 million Series C funding round, which will go toward developing more technology for medical providers,…<\/p>\n","protected":false},"author":1,"featured_media":2879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[80,72],"tags":[],"class_list":["post-2869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-startup"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/regtechafrica.com\/healthcare\/wp-content\/uploads\/2022\/09\/Scratch-Gets-35M-Funding-Toward-Care-Now-Pay-Later-Patient-Financing.png?fit=715%2C319&ssl=1","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/2869","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/comments?post=2869"}],"version-history":[{"count":2,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/2869\/revisions"}],"predecessor-version":[{"id":2904,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/posts\/2869\/revisions\/2904"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media\/2879"}],"wp:attachment":[{"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/media?parent=2869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/categories?post=2869"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/regtechafrica.com\/healthcare\/wp-json\/wp\/v2\/tags?post=2869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}