Scratchpay Financial, a company that helps our furry friends get the veterinary care they need, just announced a major funding round.
The Los Angeles-based fintech company said Tuesday that it has raised $6.4 million in a Series A financing round. With the fresh capital, the company plans to grow in the U.S. and expand internationally, as well as invest in their underwriting technology.
“We will continue to invest heavily in the technology that drives our underwriting and provides a simple and frictionless experience for our clinics and pet parents,” John Keatley, CEO and co-founder of Scratchpay said in an email to Built In LA.
The fintech company partners with veterinarians to provide flexible payment options to pet owners who are seeking immediate access to veterinary care.
53 million pets today aren’t able to get the care they need as costs continue to increase even faster than human healthcare costs — and that’s the problem we’re aiming to solve.”
“Our mission is to remove the financial barriers that prevent pets from getting care, and as we continue to pursue that, we’re thrilled to have the validation and support of these pre-eminent venture firms, along with Mars Petcare,” Keatley said in a press release announcing the deal.
According to the release, Scratchpay Financial serves more than 2,000 pet hospitals. The company also works with Mars, the largest pet health company in the world.
“53 million pets today aren’t able to get the care they need as costs continue to increase even faster than human healthcare costs — and that’s the problem we’re aiming to solve,” said Keatley.
Companion Fund, a venture capital fund focused on pet care innovation, led the round, which also saw participation from TTV Capital, Struck Capital and SWS Venture Capital.