Parasail Health, a San Francisco, CA-based lending platform for patients to finance the cost of their deductibles and other out-of-pocket medical expenses, closed a seed funding round of undisclosed amount.
Backers included Peter Thiel and Montage Ventures. In conjunction with the funding, investor Phin Upham is joining Parasail’s board.
The company will use the funds to launch the platform.
Led by CEO Adam Tibbs, Parasail Health provides a suite of products for patients to pay for medical bills via affordable loans, a quick application process and estimates of out-of-pocket costs. It offers interest rates typically lower than what a patient could qualify for with a credit card.