Lynx provides an API‑first, white‑label platform that combines banking, ledgering, payment processing, e‑commerce, and investment services for health‑related financial benefits. It lets insurers and employers issue programmable virtual or physical cards that can restrict spending by merchant, SKU or category, and offers a turnkey marketplace for qualified medical and wellness products, all with real‑time transaction data and compliance automation.
Funding
$27M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
4OFounders
Product
Problem
Health plans and employers struggle to provide seamless, flexible financial benefits such as HSAs, FSAs, OTC allowances, and reward programs while also delivering integrated e‑commerce experiences for medical and wellness products. Existing solutions are fragmented, require multiple cards or platforms, and lack real‑time API control, leading to operational inefficiencies and poor member engagement.
Solution
Lynx offers an API‑first, white‑label platform that unifies banking, ledgering, advanced payment processing, e‑commerce, and investment capabilities into a single programmable benefits infrastructure. The system enables organizations to issue virtual or physical cards that can be restricted by merchant category codes, merchant IDs, or individual product SKUs, consolidating multiple benefit accounts onto one card. Through pre‑built relationships with Fortune 10 fulfillment partners and a nationwide logistics network, Lynx powers a scalable e‑commerce marketplace for qualified medical expenses, OTC items, meals, transportation, and wellness services. Integrated ledgering and real‑time transaction data allow instant reconciliation, compliance automation, and customizable member experiences across web, app, and phone channels. The platform also supports embedded investment options, enabling a full suite of consumer‑directed health financial services.
Target Audience
Primary customers are health insurers, employer benefits providers, and Medicare Advantage plans that need to deliver integrated financial benefits and e‑commerce services to their members.
Features
- Unified ledger and banking APIs for creating and managing HSAs, FSAs, directed spend accounts, reward and loyalty programs
- Instant issuance of virtual or physical cards with programmable spend controls at the merchant, SKU, and category level
- API‑driven e‑commerce engine connected to Fortune 10 fulfillment partners, 100+ distribution centers, and millions of eligible products
- Merchant‑of‑record functionality that lets clients internalize sales and retain revenue while Lynx handles tax, disclosure, and multi‑state compliance
- White‑label storefront option for turnkey branded experiences or API‑only integration into existing platforms
- Integrated investment suite with RIA and broker‑dealer capabilities for offering curated or robo‑advisor investment lineups
- Real‑time webhook events for transaction monitoring, KYC, and member onboarding workflows