Investing in Lynx
It’s time for a grand unification of healthcare and fintech
Our personal and financial health are more inextricably linked than we realize. The data has demonstrated that an individual’s health and finances move together: As socioeconomic status declines or improves, health status follows.
Despite this clear connection, healthcare incumbents have struggled to act for a host of reasons: high technology costs, lack of interoperability across systems, and a failure of innovation to name a few. Simultaneously, best-in-class banking and payments companies have shied away from the healthcare sector due to intimidating complexity and regulatory headaches (e.g., HIPAA).
And yet demand for consumer-directed health accounts is growing while payors and benefit administrators continue to use outdated, inflexible technology leading to poor consumer experiences. The high cost and technical requirements of these offerings also make them out of reach for smaller regional plans.
Enter Lynx, with an ambitious vision to create a seamless, financial-first experience that helps Americans effectively save and pay for healthcare, ultimately delivering better outcomes.
The company is bringing to market an API-connected modern banking and payments platform that empowers payors to offer easy-to-use, customized health benefits, from OTC meds to transportation stipends and far beyond. Lynx applies deep healthcare knowledge, expertise, and regulatory rules to create a versatile and one-stop-shop set of APIs, which its clients can leverage to deliver simple and meaningful consumer experiences to their members. At a high level, Lynx will act as a health plan’s innovative and flexible fintech partner to serve members and pilot new programs and experiences across patient populations.
Lynx Co-founders Matt Renfro (CEO) and Ken Abel (CIO), as well as the broader Lynx team, are leveraging their experience from top healthcare, financial services, and payment players like Optum, UnitedHealthcare, Fidelity, and American Express. Their values-based approach focused on upleveling the user experience while handling all the backend “hard stuff” is one of the many reasons we’re so excited to be backing Lynx.
This team is poised to drive NPS up, bring costs down, and deliver better outcomes for payors and patients alike.
We’re thrilled to be on the journey with team Lynx!
