Panacea Financial

About Panacea Financial

Panacea Financial is a financial institution created by doctors for doctors, with a mission to make doctors' lives better by providing accessible and straightforward financial services. It aims to support doctors through various career stages with tailored banking and financing solutions.

Products & Services

PRN Personal Loans:Affordable, fair personal loans for veterinarians, dentists, and physicians at different career stages, with transparent fixed rates, no cosigner required, and loans up to $50,000.

Student Loan Refinance:Refinancing options for medical, dental, and veterinary school debt with transparent rates, no maximum limits, no cosigners, and in-house servicing.

Personal Checking & High Yield Savings Accounts:Free checking and high-yield savings accounts (3.80% APY, over 9x the national average) with no monthly or overdraft fees, FDIC insured, for doctors and their families.

Practice Loans & Deposits:Specialized lending and banking services for medical practices, including partner buy-in, acquisition, expansion, equipment, and commercial real estate financing.

Mortgages for Doctors:Mortgage solutions through Primis Mortgage, offering competitive rates and dedicated service for purchasing or refinancing homes.

Insurance for Doctors:Comprehensive insurance options including life, disability, business, and malpractice insurance to protect doctors, their families, and practices.

Contract Review:Legal assistance through Panacea Legal to review, understand, and negotiate job offers and employment contracts for doctors.

Business Checking & Savings:Banking solutions for medical practices with competitive accounts and services.

Merchant Services:Payment processing solutions for medical professionals and practices.

DSO and MSO Deposit Services:Specialized deposit services for Dental Service Organizations (DSO) and Management Service Organizations (MSO).

High-Balance Deposits:Deposit solutions for high-balance accounts, ensuring FDIC insurance coverage.

Specialties

Banking for Doctors Personal and Practice Loans for Medical Professionals Student Loan Refinancing for Healthcare Professionals Mortgages for Doctors Insurance Solutions for Doctors Contract Review Services for Medical Professionals

Funding History

Debug: View Raw Funding Data

#	Type	Amount Fields	Date Fields	Investors
1	RT: Series B T: - FT: Series B	A: 62000000 MR: - FA: 62 million FAN: 62000000	D: 2025-07-15 FD: 2025-07-15	1 investors
2	RT: Series B T: - FT: Series B	A: 24500000 MR: - FA: $24.5 million FAN: 24500000	D: 2024-01-16 FD: 2024-01-16	1 investors

Series B Latest

2025-07-15

$62.0M

1 investor (Pro only)

Series B 2024-01-16

$24.5M

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Growth Metrics

+45%

Employee Growth

YoY

3.2x

Funding Growth

Last Round

12

Markets

Operating

10K+

Customers

Active

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Mock Up

Team & Leadership

L

Lori Baker

Insurance Partner

M

Michael Jerkins

Internal medicine-pediatrics physician, educator, and Panacea Financial co-founder

N

Ned Palmer

Chief Operating Officer and Co-Founder

T

Tyler Stafford

Chief Executive Officer & Co-Founder

E

Elizabeth Karson

Head of Strategy & Operations

W

Will McCandless

Chief Financial Officer

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