We only take on 4 clients per month. Join our October cohort. 1 spot left.
Conversation
Highlights
Welcome to another episode of Category Visionaries — the show that explores GTM stories from tech’s most innovative B2B founders. In today’s episode, we’re speaking with Matt Renfro, CEO and Co-Founder of Lynx, a payment platform focused on healthcare that has raised $17.5 million in funding.
- Vision for Healthcare Fintech: Lynx aims to bridge the gap between traditional banking experiences and healthcare payments, offering a seamless financial experience to healthcare providers and consumers.
- Foundational Challenges: Transitioning from the security of a Fortune Five company to the uncertainties of startup life, Matt discusses the courage and resilience required to venture into entrepreneurship.
- The Importance of Financial-first Mentality in Healthcare: Research conducted by Lynx reveals consumer preferences for a platform that not only manages healthcare finances but also provides access to healthcare services, emphasizing the need for integrated health and financial solutions.
- Business Model Innovation: Lynx’s business model combines fintech dynamics with healthcare-specific functionalities, aiming to disrupt traditional healthcare payment systems with a more integrated and consumer-friendly approach.
- Strategic Partnerships and Growth: Early success stories and strategic partnerships have been critical for Lynx, showcasing the potential to scale by providing essential infrastructure for healthcare financial transactions.
- Future Vision: Matt outlines a future where Lynx plays a pivotal role in closing the gap between health and finance, leading to improved outcomes for consumers’ health and financial well-being.
Actionable
Takeaways
Research-Driven Product Development:
Before developing a product or service, conduct thorough research to understand consumer behaviors and needs, especially in sectors like healthcare where user engagement patterns are distinct from typical financial services. Lynx's approach to embedding fintech within healthcare is a testament to the power of targeted, research-informed product design.
The Entrepreneurial Leap Requires Courage:
Transitioning from a stable, well-paying job to start a new venture is a risk that requires courage and a strong support network. Matt's story illustrates the importance of resilience and the willingness to embrace uncertainty in the pursuit of innovation.
Integrate Services for a Comprehensive Solution:
In today's competitive landscape, offering a singular service might not be enough. Lynx's strategy to combine healthcare services with financial management into a unified platform demonstrates how addressing multiple customer pain points can enhance value and differentiation.
Strategic Partnerships for Scalability:
Early and strategic partnerships can significantly accelerate a startup's growth. Identifying and engaging with larger entities that can benefit from your solution, as Lynx did with healthcare companies, can provide the necessary infrastructure and credibility to scale quickly and efficiently.
Recommended Founder
Interviews
Amy Brown
CEO and Founder of Authenticx
Amy Brown, CEO and Founder of Authenticx: $28 Million Raised to Build the Future of Listening AI
Dimitrios Skaltsas
CEO & Co-Founder of Intelligencia AI
Dimitrios Skaltsas, CEO & Co-Founder of Intelligencia AI: $15.5 Million Raised to Build the Future of Drug Development
David King Lassman
Founder of GigXR
David King Lassman, Founder of GigXR: $7 Million Raised to Bring Immersive Learning to Healthcare
Nick Soman
CEO & Founder of Decent
Nick Soman, CEO & Founder of Decent: $43 Million Raised to Build the Future of Direct Primary Care
Daniel Lambert
CEO of PathologyWatch
Daniel Lambert, CEO of PathologyWatch: Over $50 Million Raised to Build the Future of Digital Pathology
Vicky Demas
CEO of Identifeye Health
Vicky Demas, CEO of identifeye HEALTH: $90 Million Raised to Power the Future of Retinal Imaging
Dilpreet Sahota
CEO of Trek Health
Dilpreet Sahota, CEO of Trek Health: $3 Million Raised to Help Mental Health Providers Accept Insurance
Viral Patel
Founder and CEO of Radish Health
Viral Patel, CEO of Radish Health: $5 Million Raised to Connect Employees with a Better Healthcare Experience
Joseph Schneier
CEO of Trusty Care
Joseph Schneier, CEO of Trusty Care: $13+ Million Raised to Shape the Future of Medicare
Henry O’Connell
CEO & Founder of Canary Speech
Henry O’Connell, CEO & Founder of Canary Speech: $26 Million Raised to Build the Future of Vocal Biomarker Technology
Hala Borno
Founder and CEO of Trial Library
Hala Borno, Founder and CEO of Trial Library: $5M Raised to Improve Patient Recruitment and Diversity in Oncology Clinical Trials
Khaled Boukadoum
Founder of Torch Dental
Khaled Boukadoum, Founder of Torch Dental: $49.5 Million Raised to Transform Dental Supply Management Through Digital Innovation
Kristen Valdes
CEO & Founder of B.well
Kristen Valdes, CEO & Founder of B.well: $100 Million Raised to Reimagine the Healthcare Experience
Elad Ferber
CEO & Co-Founder of Synthpop
Elad Ferber, CEO & Co-Founder of Synthpop: $8 Million Raised to Build the Future of Healthcare Administration with AI
Kourosh Davarpanah
Co-Founder and CEO of Inato
Kourosh Davarpanah, Co-Founder and CEO of Inato: Over $35 Million Raised to Build the Future of Clinical Trials
James Bates
CEO and Founder of AdviNOW Medical
James Bates, CEO and Founder of AdviNOW Medical: $24 Million Raised to Build the Future of AI-Powered Healthcare
Michael Gorton
Founder of Teladoc
Teladoc Founder Michael Gorton on the Early Days of Pioneering the Telemedicine Category (And What’s He’s Up to Next)
Dipanwita Das
CEO and Co-Founder of Sorcero
Dipanwita Das, CEO and Co-Founder of Sorcero: Over $20 Million Raised to Power Medical Affairs Teams of the Future
Austin McChord
CEO of Casana
Austin McChord, CEO of Casana: Over $46 Million Raised to Create the Future of In-Home Health Monitoring
Armon Sharei
CEO & Founder of Portal
Armon Sharei, CEO & Founder of Portal: $5 Million Raised to Power the Future of Cell Engineering
Aasim Saeed
CEO and Founder of Amenities Health
Aasim Saeed, CEO and Founder of Amenities Health: $10 Million Raised to Build the Future of Patient Engagement
Joe Gagnon
CEO of 1upHealth
Joe Gagnon, CEO at 1upHealth: Over $75 Million Raised to Build the Future of Healthcare Data
Justin Dearborn
Founder & CEO of Praia Health
Justin Dearborn, Founder & CEO of Praia Health: $20 Million Raised to Build the Future of Consumer Experience in Healthcare
Joshua Miller
CEO and Co-Founder of Gradient Health
Joshua Miller, CEO & Co-Founder of Gradient Health: $5.7 Million Raised to Build the Future of Medical Imaging
Rishi Nayyar
CEO and Co-Founder of PocketHealth
Rishi Nayyar, CEO and Co-Founder of PocketHealth: $22.5 Million Raised to Power the Future of Medical Image Sharing
Rafid Fadul
CEO and Co-Founder of Zivian Health
Rafid Fadul, CEO and Co-Founder of Zivian Health: $3 Million Raised to Power the Future of Compliant Healthcare Collaborations
Richard Queen
CEO and Co-Founder of DignifiHealth
Richard Queen, CEO and Co-Founder of DignifiHealth: $7 Million Raised to Drive Better Patient Outcomes in Rural Healthcare and Beyond
Matthew Stoudt
CEO and Founder of AppliedVR
Matthew Stoudt, CEO and Founder of AppliedVR: Over $70 Million Raised to Build the Future of Chronic Pain Relief
Kyle Kiser
CEO of Arrive Health
Kyle Kiser, CEO of Arrive Health: Over $40 Million Raised to Improve the Value of Healthcare Through Informed Decision-Making
Ty Allen
CEO of SocialClimb
Ty Allen, CEO of SocialClimb: $12 Million Raised to Power the Future of Healthcare Marketing
Amar Kendale
President and Co-Founder of Homeward
Amar Kendale, President & Co-Founder of Homeward: $70 Million Raised to Transform Rural Healthcare Through Technology
Ben Albert
CEO & Co-Founder of Upfront Healthcare
Ben Albert, CEO & Co-Founder of Upfront Healthcare: $30 Million Raised to Power the Future of Patient Engagement
Kevin Flyangolts
CEO and Founder of Aclid
Kevin Flyangolts, CEO & Founder of Aclid: $4 Million Raised to Build the Future of Biosecurity
Alfred Griffin
CEO and Co-Founder of CEO and Co-Founder
Alfred Griffin, CEO and Co-Founder of LightForce: $150 Million Raised to Power the Future of Orthodontics
Trenor Williams
CEO and Co-Founder of Socially Determined
Trenor Williams, CEO and Co-Founder of Socially Determined: $34 Million Raised to Build the Social Risk Intelligence Category
Dr. Nan-Wei Gong
CEO and Founder of FIGUR8
Dr. Nan-Wei Gong, CEO & Founder of FIGUR8: $40 Million Raised to Build the Future of Musculoskeletal Health and Injury Data Solutions
Stacy Edgar
CEO and Co-Founder of Venteur
Stacy Edgar, CEO & Co-Founder of Venteur: $7.6 Million Raised to Build the Future of Health Insurance
Brett Kleger
CEO of Datacubed Health
Brett Kleger, CEO of Datacubed Health: $43 Million Raised to Revolutionize Clinical Trial Data Collection
Dr Thomas Oakley
CEO of Feedback PLC
Dr Thomas Oakley, CEO of Feedback PLC: £20 Million Raised to Build the Future of Patient Data Sharing
Itzik Cohen
Co-Founder and CEO of PayZen
Itzik Cohen, Co-Founder and CEO of PayZen: $240 Million Raised to Build the Future of Affordable Health Care
Daniel West
CEO of Prospection
Daniel West, CEO of Prospection: $36 Million Raised to Build the Future of Patient-Centric Intelligence
Samson Magid
Co-Founder and CEO of HealthSnap
Samson Magid, Co-Founder and CEO of HealthSnap: Over $12 Million Raised to Build the Future of Remote Patient Monitoring
Derek Streat
Co-Founder & Chief Executive Officer of Dexcare
Derek Streat, CEO of Dexcare: $110 Million Raised to Help Health Systems to Find Time for the Best Care
Danny Freed
CEO & Founder of Blueprint
Danny Freed, CEO & Founder of Blueprint: $13.7 Million Raised to Build the Future of Therapist Enablement
Brad Kittredge
CEO & Co-Founder of Brightside
Brad Kittredge, CEO & Co-Founder of Brightside: $150 Million Raised to Build the Future of Mental Healthcare
Andreas Cleve
CEO and Co-Founder of Corti
Andreas Cleve, CEO and Co-Founder of Corti: $32 Million Raised to Power the Future of Patient Consultations
David Berry
CEO and Founder of Valo
David Berry, CEO and Founder of Valo: Over $500 Million Raised to Build the Future of Drug Discovery
Cesar Herrera
CEO and Co-Founder of Yuvo Health
Cesar Herrera, CEO and Co-Founder of Yuvo Health: $28 Million Raised to Revolutionize Healthcare Access
Mark Lehmkuhle
CEO & Founder of Epitel
Mark Lehmkuhle, CEO & Founder of Epitel: $20 Million Raised to Build the Future of Brain Health Monitoring
Brock Leonti
CEO & Co-Founder of Prescribe FIT
Brock Leonti, CEO & Co-Founder of Prescribe FIT: $15 Million Raised to Build the Future of Orthopedic Care
Senan Ebrahim
CEO & Founder of Delfina
Senan Ebrahim, CEO & Founder of Delfina: $10 Million Raised to Build the Future of Intelligent Pregnancy Care
Alex Zekoff
CEO and Co-Founder of Thoughtful AI
Alex Zekoff, CEO and Co-Founder of Thoughtful AI: $21 Million Raised to Power the Future of Healthcare Automation