Healthcare fintech start-up Nitra lands $62m seed round

New York-based healthcare fintech Nitra has raised $62 million in a mix of equity and debt capital.

Nitra’s first product is a Visa business card

Investors in the seed round include Andreessen Horowitz (a16z), New Enterprise Associates, Pantera Capital, KB Financial Group, Jerry Yang/AME Cloud Ventures and Will Smith’s Dreamers VC, among others. Miami-based VC firm CoVenture is providing the debt facility.

Nitra says the new capital will be put towards accelerating the company’s growth, launching new products and scaling its team.

The funding will help the fintech launch its first product, a Visa business card for the healthcare industry that will allow physicians to earn unlimited rewards on common expenditures such as medical and surgical supplies, office and business spend and dining, with no annual fee.

Nitra says its offering is underpinned by spend management, business analytics and reconciliation software and it aims to expand its products to address the needs of doctors and their practices.

Jonathan Chen, founder and CEO of Nitra, says the company’s goal is “to help doctors better manage their practices and better focus on their patients”.

Founded in 2021, Nitra’s leadership team consists of executives formerly from Amazon, American Express, Facebook, Citi and PayPal.