About Panacea Financial
Panacea Financial is a Financial Services company based in Little Rock (United States) founded in 2020 by Michael Jerkins, Tyler Stafford, and Ned Palmer. Digital banking services are tailored for physicians and healthcare professionals. Panacea Financial has raised $61.7 million across 3 funding rounds from investors including Valar Ventures. Its chief executive, as recorded, is Michael Jerkins. Its website panaceafinancial.com draws about 46 thousand monthly visits. Panacea Financial offers products and services including PRN Personal Loans, Student Loan Refinance, Mortgages, Checking and Savings Accounts, and Insurance Services. Its focus areas include FinTech, Banking Tech, Internet First Banks and Through Bank Partnerships. Its legal entity is Panacea Financial, a division of Primis Bank. Its competitors include Chime, Stash and Dave; 3 of its 3 listed competitors have raised funding.
Company details
Panacea Financial was founded in 2020 and is headquartered in Little Rock, United States, operating as a digital bank serving medical professionals. Core offerings encompass savings and checking accounts, personal loans, student loan refinancing, and health and life insurance products. Community engagement tools are integrated into the platform, with services accessible via panaceafinancial.com. The focus remains on financial solutions for the healthcare sector.
- Total Equity Funding$61.7M (USD)
in 3 rounds
- Latest Funding Round$37M (USD), Series B
Jul 2025
- Investors
Products & Services of Panacea Financial
Panacea Financial offers a comprehensive portfolio of products and services, including PRN Personal Loans, Student Loan Refinance, Mortgages, Checking and Savings Accounts, and Insurance Services.
Loans for medical professionals with transparent rates
Refinancing options for medical student debts
Mortgage services tailored for doctors
High-yield accounts with no fees
Coverage for life, disability, and malpractice
Apps and channels of Panacea Financial
its YouTube channel PanaceaFinancial has 193 subscribers and 30 videos.
Videos from Panacea Financial
The most watched videos on Panacea Financial's YouTube channel, PanaceaFinancial (193 subscribers). Click a video to play it here.
More on PanaceaFinancial.
Funding Insights of Panacea Financial
Panacea Financial has successfully raised a total of $61.7M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $37 million completed in July 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $61.7M
- Total Rounds 3
- Last Round Series B — $37M
- First Round $200,000
(Aug 2023)
- Investors Count 1
All 3 funding rounds of Panacea Financial with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2025 | $37M | Series B | – | – | |
| Jan 2024 | $24.5M | Series B | – | Valar Ventures | – |
| Aug 2023 | $200,000 | Seed | – | – | – |
1 investors in total: 1 institutional.
Investors in Panacea Financial
Panacea Financial has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Valar Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Global investments in tech sectors are conducted by Valar Ventures. | valar.com | New York, United States |
Investor details for Panacea Financial
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
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People of Panacea Financial
23 people are tracked at Panacea Financial (14 in leadership, 9 in team).
| Name | Role | Group |
|---|---|---|
Michael Jerkins | Co-Founder & CEO | Leadership |
Tyler Stafford | Co-Founder & CEO | Leadership |
Ned Palmer | Co-Founder & CSO | Leadership |
Bradley Klein | Director Of Paid Media | Leadership |
Brandon Finazzo | Chief Growth Officer | Leadership |
Paul M. | VP - Regional Healthcare Manager @ Panacea Financial | Leadership |
Rob Borcherding | VP - Regional Healthcare Manager | Leadership |
Randall Rodgers | Director Of Practice Solutions | Leadership |
Ryan Gorney | Chief Technology Officer | Leadership |
Amy Melaragno | Director, IT Delivery / PMO | Leadership |
Alex Kugler | Director Of Strategic Partnerships | Leadership |
Elizabeth Karson | Head Of Strategy & Operations | Leadership |
Tim Bates | Head Of Consumer Credit | Leadership |
Raquel Powers | Head Of Consumer Banking | Leadership |
Nancy Jamil | Associate Primary Care Relationship Manager | Team |
Parker Beller | Primary Care Banker | Team |
Helen Blier | Healthcare Credit Portfolio Manager | Team |
Jeannine McMahon | Healthcare Loan Processor | Team |
Cori Ritter | Senior Healthcare Business Development Officer | Team |
James Burnett | Practice Solutions Consultant | Team |
3 more people are available in the full profile.
Complete people profiles for Panacea Financial
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
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Timeline of Panacea Financial
3 dated milestones of Panacea Financial across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Panacea Financial is founded.
- Funding First funding round of $200K.
- Funding Latest funding round, Series B, of $37.0M.
Competitors of Panacea Financial
Panacea Financial has 3 listed competitors in our database, 3 of them funded. They include Chime, Stash and Dave.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| chime.com | 2012 | San Francisco, United States | $3.15B | 1,604 | Digital banking services are offered to individuals via mobile apps. | |
| stash.com | 2015 | New York, United States | $747.48M | Automated investment and robo-advisory services are offered to individuals. | ||
| dave.com | 2016 | Los Angeles, United States | $63.56M | 320 | Digital banking services are provided for easier financial management. |
Detailed competitors of Panacea Financial
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Panacea Financial
The website of Panacea Financial (panaceafinancial.com) receives about 46K visits a month.
- Monthly visits46K
▲ 16.5% vs previous month
Websites whose visitors overlap most with Panacea Financial. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
wealthkeel.com | wealthkeel.com | 100% | #1,762,528 | – | |
physiciansidegigs.com | physiciansidegigs.com | 86% | #580,423 | – | |
| medschoolinsiders.com | 86% | 297K | #157,214 | View details | |
physiciansthrive.com | physiciansthrive.com | 86% | #1,003,084 | – | |
| ada.org | 52% | 987.4K | #51,155 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 8 similar websites and full traffic analytics for Panacea Financial
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 8 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Top companies in Banking & FinTech Platforms
3 companies that operate in the same segment as Panacea Financial (Banking & FinTech Platforms) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Online business banking and financial workflow tools are provided. | 2010 | San Francisco, California, United States | USD 546 M | USD 2.71 M | 1,807 | |
Digital banking services are offered to individuals via mobile apps. | 2012 | San Francisco, California, United States | USD 3.15 B | USD 1.96 B | 2,516 | |
Digital sustainable banking services are offered to consumers. | 2013 | Los Angeles, California, United States | USD 865 M | 237 |
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Related news about Panacea Financial
Complete news archive for Panacea Financial
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Frequently Asked Questions about Panacea Financial
Panacea Financial was founded in 2020 and raised its 1st funding round 3 years after it was founded.
Panacea Financial is headquartered in Little Rock, United States. It is registered at Little Rock, Arkansas, United States.
Michael Jerkins is the CEO of Panacea Financial, as recorded in our data. They have also founded this company.
Panacea Financial is a funded company, having raised a total of $61.7M across 3 funding rounds to date. The company's 1st funding round was a Seed of $200K, raised on Aug 2023.
Panacea Financial was founded in 2020 and is headquartered in Little Rock, United States, operating as a digital bank serving medical professionals. Core offerings encompass savings and checking accounts, personal loans, student loan refinancing, and health and life insurance products. Community engagement tools are integrated into the platform, with services accessible via panaceafinancial.com. The focus remains on financial solutions for the healthcare sector.
Panacea Financial offers PRN Personal Loans, Student Loan Refinance, Mortgages, Checking and Savings Accounts, and Insurance Services.
Panacea Financial has 1 investor. Key investors include Valar Ventures.
Panacea Financial operates through Panacea Financial, A Division Of Primis Bank.