Medex FinanceMedex Finance is a healthcare insurance claims factoring platform. It allows providers to access insurance reimbursements upfront at industry-leading rates in exchange for a discount.Medex FinanceAkul Penugonda is the CEO of Medex Finance. Prior to Medex, Akul earned his stripes as a Product Manager at EvolutionIQ, a healthcare insurance claims processing startup acquired by CCC Intelligent Solutions, and Founder of Composite Labs, a DeFi startup. Courtesy of his unique background in insurtech and crypto, Akul identified an opportunity to build Medex Finance.Who is the CEO of Medex Finance? Can you share a little about Medex Finance? Winning in this market requires scalable access to provider networks and institutional liquidity. The Medex team has inroads into statewide provider networks and billions in liquidity from financial institutions and the crypto ecosystem.What makes this team special? How does the product solve customer problems? School-based providers, home and community-based care providers, and small hospitals cannot access claims factoring at reasonable rates. To make things worse, many providers in these segments struggle with financial management. Medex Finance is making claims factoring at competitive rates accessible to all.Medex Finance is the only company in this space to integrate blockchain tech. Blockchain tech allows Medex to (i) develop transparent software that can win the trust of financial institutions, (ii) build a sound business model by reducing the costs of securitization, and (iii) attract liquidity from the crypto ecosystem.What differentiates the product? What attracted you to the market? We believe that blockchain technology and the crypto ecosystem can service the under- and unbanked. The underbanked middle market for healthcare insurance claims factoring is a venture-backable fit for this thesis given it: • Is a large market - 10s of billions of $ in annual claims volume: • Has a strong inflection point - financial management issues caused by the end of COVID grant funding: • Has substantial whitespace - no major incumbentHow can I get in touch with Medex Finance? Please feel free to reach out to Akul Penugonda over Akul Penugonda over Linkedin Akul Penugonda over Linkedin Akul Penugonda over Linkedin Please feel free to reach out to Akul Penugonda over Please feel free to reach out to Akul Penugonda over Please feel free to reach out to Akul Penugonda over Akul Penugonda over Linkedin
Medex Finance is a healthcare insurance claims factoring platform. It allows providers to access insurance reimbursements upfront at industry-leading rates in exchange for a discount.Akul Penugonda is the CEO of Medex Finance. Prior to Medex, Akul earned his stripes as a Product Manager at EvolutionIQ, a healthcare insurance claims processing startup acquired by CCC Intelligent Solutions, and Founder of Composite Labs, a DeFi startup. Courtesy of his unique background in insurtech and crypto, Akul identified an opportunity to build Medex Finance.Who is the CEO of Medex Finance? Can you share a little about Medex Finance? Winning in this market requires scalable access to provider networks and institutional liquidity. The Medex team has inroads into statewide provider networks and billions in liquidity from financial institutions and the crypto ecosystem.What makes this team special? How does the product solve customer problems? School-based providers, home and community-based care providers, and small hospitals cannot access claims factoring at reasonable rates. To make things worse, many providers in these segments struggle with financial management. Medex Finance is making claims factoring at competitive rates accessible to all.Medex Finance is the only company in this space to integrate blockchain tech. Blockchain tech allows Medex to (i) develop transparent software that can win the trust of financial institutions, (ii) build a sound business model by reducing the costs of securitization, and (iii) attract liquidity from the crypto ecosystem.What differentiates the product? What attracted you to the market?We believe that blockchain technology and the crypto ecosystem can service the under- and unbanked. The underbanked middle market for healthcare insurance claims factoring is a venture-backable fit for this thesis given it:
• Is a large market - 10s of billions of $ in annual claims volume
• Has a strong inflection point - financial management issues caused by the end of COVID grant funding
• Has substantial whitespace - no major incumbent
How can I get in touch with Medex Finance? Please feel free to reach out to
Akul Penugonda over How does Hico support its portfolio companies post-investment?
"Our global investment platform provides support to portfolio companies across key corporate functions, including business development, marketing, fundraising, and talent. In addition, our collaboration-friendly approach to venture allows us to tap into the resources of:
- SK Networks: SK Networks is the inceptive unit of SK Group, a F500 conglomerate. As an anchor LP to our fund, SK Networks is committed to supporting our portfolio companies in efforts spanning fundraising, internationalization, and business plan execution.
- Bow Capital: a University of California ecosystem fund that invests in Series A startups. Our partnership with Bow Capital allows our portfolio companies to gain exclusive access to the University of California, sports and media, and Silicon Valley titans.
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Bow Capital Management, LLC (“Bow Capital”) is an independent investment adviser that is not affiliated with Hico Ventures. Bow Capital has not prepared, and is not responsible for, the contents of this site.
