Lendeavor, which offers finance options for healthcare practices, has rebranded to Provide and closed a $34m Series A and B round to support its growth.
The capital injection was led by QED Investors, with commitments also coming from Fifth Bank, Montage Ventures and Clocktower Technology Ventures.
Its new identity as Provide aims to reflect its ambition of simplifying finance for healthcare practices. The FinTech goal is to provide a fully integrated suite of financial products that makes starting and running a healthcare practice easier.
Provides flagship product is a practice lending service, which enables providers to start, buy or expand healthcare practices.
With the close of funding rounds, the FinTech is going to scale its business bank accounts and insurance products.
Its deposit solution includes an FDIC-insured business operating account, while the insurance offering gives practices access to cover including property and business overhead.
Provide CEO Dan Titcomb said, “Provide doesn’t just originate loans, we build deep and lasting relationships with customers.
“We are earning the trust of impressive healthcare entrepreneurs by solving their most challenging financial problem: getting the funding to start their practices. Provide members are eager for us to continue building on that foundation as evidenced by the fact that we help the majority of our members open primary operating accounts with our bank partners and we facilitate more insurance policies than loans.
?Most importantly, we’re proud to watch our members make an impact as front-line heroes in the era of COVID-19.”
Copyright ? 2020 FinTech Global
