Health savings account platform Lively has received a $4.2m investment to help deepen the company technology offering.
Commitments to the round came from backers including Streamlined Ventures, Transmedia Capital, Y Combinator, SV Angel, PJC, The Durant Company, Liquid 2 Ventures, Haystack Partners, Paul Buchheit, Isaac Oates, Frederic Kerrest, and Jeff Epstein, among others.
Lively HSA platform allows consumers to sync payroll, access paperless account management, and transparent pricing to help simplify health and insurance plans. Through the platform users are able to? optomise healthcare spending and their maximise savings.
The capital will be used to help expand its team, deepen its technology offering and automate with existing payroll and HRIS platforms.
Alongside the investment, the company has launched investment capabilities through an integration with TD Ameritrade Institutional Self-Directed Plan Services platform. HSA customers are able to invest their HSA funds into ETFs, stocks, bonds or mutual funds available on the TD Ameritrade platform.
This new capability aims to grow health savings and generate financial returns over long-term, and can be started with no minimum balance.
Lively co-founder & CEO Alex Cyriac said, ?Our goal is to facilitate and optimize how individuals save for healthcare expenses. As more and more healthcare costs are shifted to individuals, it becomes that much more important for them to plan and save accordingly.
?Adding investment capabilities was a natural expansion to our user-centric HSA experience. As HSAs grow, investments provide long-term value to support our users needs to prepare for healthcare costs over the course of their lives,p>
Earlier in the year Transmedia Capital took part in the $6.5m Series A funding round of online enrolment platform EaseCentral.
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