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Overview
Scratchpay helps pet owners and veterinary practices manage medical costs by offering flexible payment plans for veterinary care. Its product lets clients spread medical bills into installments with varying terms and interest based on the applicant’s credit profile. The application is straightforward, does not affect the applicant’s credit score, and emphasizes transparency with no hidden fees or prepayment penalties. Practices can offer Scratchpay as a financing option and may pay fees to participate, while the company earns revenue from interest on plans and service fees. Compared with competitors, Scratchpay emphasizes high approval rates, transparent pricing, and a simple, credit-accessible experience for both pet owners and veterinary clinics. The goal is to increase access to necessary pet healthcare by reducing upfront financial barriers for families and enabling veterinary practices to offer affordable payment options.
About Scratch Financial
Industries
Fintech
Financial Services
Healthcare
Company Size
51-200
Company Stage
Series C
Total Funding
$58.9M
Headquarters
Los Angeles, California
Founded
2015
Simplify's Take
What believers are saying
- Raised $35M Series C in September 2022 led by Norwest Venture Partners.
- Hired Steven Tamm as CTO to enhance technology platform.
- Partnered with Wellfit in January 2023 for dental patient app financing.
What critics are saying
- CareCredit holds 80% market share, locks out Scratch via integrations.
- CFPB fines WebBank-originated 0% APR loans for deceptive practices.
- GreenSky poaches 10,000-practice network with superior SaaS.
What makes Scratch Financial unique
- Scratch expanded from veterinary to dental, optical, chiropractic in 2020.
- Partners with 1 in 3 U.S. and Canada veterinary practices.
- Processes nearly $1 billion patient payments by end of 2022.
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Funding
Total Funding
$58.9M
Below
Industry Average
Funded Over
5 Rounds
Industry standards
Benefits
Medical, dental, & vision
Monthly wellness benefit
401k
Flexible vacation policy
Parental leave
Professional development stipend
Tech equipment stipend
Company & team activities
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 0%2 year growth
↑ 2%Since it started doing business in 2016, Scratch has raised more than $108 million in financing.
PASADENA, Calif., Jan. 31, 2023 /PRNewswire/ -- Scratch Financial Inc. (Scratch), a fintech company that provides access to simple patient financing and payment solutions for healthcare providers, announced today that it has partnered with Wellfit Technologies, Inc. (Wellfit), a technology platform that makes financing, payments, and dental plans simple and accessible to patients at thousands of dental practices across the country. The new partnership aims to bring financial simplicity and convenience to patients seeking dental care.Wellfit's technology platform puts patients in control of all financial aspects of their dental care through a simple and intuitive app where patients can access financial services from leading providers.Scratch was a natural choice to partner with Wellfit thanks to the patient-friendly payment plan options, frictionless application process, and mobile-first design. Scratch offers access to the simplicity of "Buy Now Pay Later" in the dentist's office with financing options that have interest rates as low as 0% APR (loans originated by WebBank)
Scratch Financial Inc., a fintech company that provides simple patient financing and payment solutions for healthcare providers, is pleased to announce the hiring of Steven Tamm as its Chief Technology Officer (CTO).
/PRNewswire/ -- Scratch Financial Inc., a Pasadena-based fintech company reimagining patient financing, today announced that it has raised $35 million in...
Scratchpay Gets $35M. Pasadena-based Scratchpay, which originally provided pet health insurance, but now is expanding into healthcare in general, has raised $35M in its Series C funding, the company disclosed this morning. The Series C funding round was led by Norwest Venture Partners, and also included Alumni Ventures, Companion Fund, Struck Capital, SWS Venture Capital, TTV Capital, and others. The company says it has now raised over $108M in total. Scratchpay is led by founder and CEO John Keatley
Scratch Financial is Hiring for 2 Jobs on Simplify!
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About Scratch Financial
Industries
Fintech
Financial Services
Healthcare
Company Size
51-200
Company Stage
Series C
Total Funding
$58.9M
Headquarters
Los Angeles, California
Founded
2015
Scratch Financial is Hiring for 2 Jobs on Simplify!
Find jobs on Simplify and start your career today