When was Panacea Financial founded?

Panacea Financial was founded in 2020 and raised its 1st funding round 3 years after it was founded.

Where is Panacea Financial located?

Panacea Financial is headquartered in Little Rock, United States.

Who is the current CEO of Panacea Financial?

Michael Jerkins of Panacea Financial. They have also founded 1 company.

How many employees does Panacea Financial have?

As of Jun 30, 2026, the latest employee count at Panacea Financial is 89.

Is Panacea Financial a funded 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 round, raised on Aug 21, 2023.

When was the latest funding round of Panacea Financial?

Panacea Financial's latest funding was a $***** Series B round on Jul 15, 2025, with participation from 1 investor.

Where does Panacea Financial rank among its competitors?

Panacea Financial ranks 25th amongst 503 active competitors, of which 54 are funded. It stands 10th in terms of total funding among its competitors. The most recent competitor to raise funding was Panacea Financial, which secured $37M in Jul, 2025.

Who are the top competitors of Panacea Financial?

Panacea Financial's top competitors include Revolut, Monzo and Dave. Among them, Panacea Financial secured the most recent funding round in July, 2025.

Panacea Financial - 2026 Company Profile, Team, Funding & Competitors

Company Details

Digital bank for doctors. Its services include savings & checking accounts, personal loans, student loans refinance, health & life insurance, and more. It also provides tools for community engagement.

Website: panaceafinancial.com
Social
Phone Number: +1 **********
Part Of

Key Metrics

Founded Year

2020

Location

Little Rock, United States

Stage

Series B

Total Funding

$61.7M in 3 rounds

Latest Funding Round

Series B, Jul 15, 2025, $*****

Investors

Valar Ventures

Ranked

25^th among 503 active competitors

Employee Count

89 as on Jun 30, 2026

Similar Companies

Dave & 511 more

View Panacea Financial's full profile

Panacea Financial has raised a total funding of $61.7M over 3 rounds. Its first funding round was on Aug 21, 2023. Its latest funding round was a Series B round on Jul 15, 2025 for $*****. 1 investor participated in its latest round. Panacea Financial has 1 institutional investor.

Here is the list of recent funding rounds of Panacea Financial:

Date of Funding	Funding Amount	Round Name	Post-Money Valuation	Revenue Multiple	Lead Investors	Other Investors
Jul 15, 2025	1369679	Series B	3012381	5190078	3552631	4104916
Jan 16, 2024	6980640	Series B	4669517	2469127	7900169	4238342
Aug 21, 2023	7395251	Seed	7520051	6441101	3351634	3150801

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View details of Panacea Financial's funding rounds and investors

The founders of Panacea Financial are Ned Palmer and Michael Jerkins. Michael Jerkins is the CEO of Panacea Financial.

Here are the details of Panacea Financial's key team members:

Ned Palmer: Co-Founder & CSO of Panacea Financial.
Contact Info: 1 email address
Michael Jerkins: Co-Founder & CEO of Panacea Financial.
Contact Info: 1 email address

View details of Panacea Financial's Founder profiles and Board Members

Panacea Financial's employee count trend

Panacea Financial has 89 employees as of Jun 26. Here is Panacea Financial's employee count trend over the years:

Employee count trend for Panacea Financial

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Top competitors of Panacea Financial include Revolut, Monzo and Dave. Here is the list of Top 10 competitors of Panacea Financial, ranked by Tracxn score:

Rank	Company Details	Short Description	Total Funding	Investors	Tracxn Score
1st	Revolut 2015, London (United Kingdom), Series E	Provider of banking solutions for retail customers and businesses	$1.99B	Balderton Capital, TCV & 148 others	86/100
2nd	Monzo 2015, United Kingdom, Series I	Provider of digital banking services including savings accounts and loans	$1.81B	General Catalyst, Passion Capital & 65 others	84/100
3rd	Dave 2016, Los Angeles (United States), Public	Developer of a mobile banking application offering financial management tools	$63.6M	Norwest, Financial Solutions Lab & 18 others	81/100
4th	Chime 2012, San Francisco (United States), Public	Digital bank for individuals	$3.15B	DST Global, Dragoneer Investment Group & 56 others	80/100
5th	Green Dot 1999, Pasadena (United States), Acquired	Provider of mobile banking services, debit cards, and related financial products	$109M	TCV, Millennium Technology Value Partners ... & 6 others	79/100
6th	Albert 2015, Los Angeles (United States), Series C	All-in-one money app for budgeting, saving, spending, and investing	$174M	500 Global, Financial Solutions Lab & 22 others	78/100
7th	Varo 2015, San Francisco (United States), Series G	Digital bank for individuals	$1.12B	Warburg Pincus, The Rise Fund & 43 others	74/100
8th	Stash 2015, New York City (United States), Acquired	Automated investment and robo-advisory platform	$747M	Goodwater Capital, Union Square Ventures ... & 22 others	73/100
9th	Bunq 2012, Amsterdam (Netherlands), Series A	Provider of the digital bank for individuals and businesses	$373M	Pollen Street Group, Sanisidro & 1 others	72/100
10th	Bancorp 2000, Wilmington (United States), Public	Payment card issuing and processing solutions for businesses	-	Endicott Group, Batterson Venture Capital ... & 3 others	70/100
25th	Panacea Financial 2020, Little Rock (United States), Series B	Digital bank for doctors	$61.7M	Valar Ventures	56/100

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Panacea Financial has made no investments or acquisitions yet.

Here is the latest report on Panacea Financial's sector:

Free

Banking Tech - Sector Report

Edition: June, 2026 (98 Pages)

View all reports related to Panacea Financial

Media has covered Panacea Financial for a total of 4 events in the last 1 year, 2 of them have been about company updates and 1 about people movement.