CoFi
CoFi operates a browser-based multi-party payment platform for elective ophthalmology procedures, enabling patients to pay surgeons, ASCs, and co-managing optometrists through one consolidated invoice with separate, AKS-compliant payments routed to each provider.
- Company typePrivate
- Founded2021
- HeadquartersHolliston, United States
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What CoFi does
CoFi, Inc. is a U.S.-based healthcare payments company that operates a browser-based, multi-party payment platform for elective medical procedures, with a current focus on ophthalmology. The platform enables a patient to make a single payment event against a consolidated invoice that is then routed as separate, direct payments to each participating provider—typically a surgeon, an ambulatory surgery center (ASC), and a co-managing optometrist (OD). This architecture is engineered specifically to comply with the federal Anti-Kickback Statute and HIPAA, addressing the compliance friction that arises when surgeons or ASCs collect on behalf of referring partners. The product suite includes multi-provider price lists, real-time partner dashboards, enterprise reporting, and multi-provider financing integrations with CareCredit (Synchrony) and Alphaeon Credit (Comenity Capital Bank), allowing patients to finance the entire procedure cost across all providers with funds distributed directly to each party.
CoFi monetizes primarily through transaction-based fees on payment processing, with potential usage-based revenue tied to financing integrations. Pricing is quote-based and not publicly disclosed; the sales motion is demo-led with a 20-minute product demo and a stated two-week onboarding timeline. The company targets three primary business-unit segments: ophthalmology practices and surgeons (premium cataract, LASIK, SMILE, RLE), optometry practices (co-management post-op collections), and ASCs (facility fee collection without day-of-surgery payment friction). Distribution combines direct sales, financing-partner channels (Synchrony/CareCredit, Alphaeon Credit), and a flagship enterprise partnership with MyEyeDr. covering 880+ locations across 29 states. Named customers include Vance Thompson Vision, Center for Sight, Mann Eye Institute, Parkhurst NuVision, Gramercy Surgery Center, Diagnostic Eye Center, and Eye Associates of Central Texas.
The company is privately held, headquartered in Holliston, Massachusetts (MetroWest Boston), and was founded by Sean Hanlon (CEO); Tal Raviv, MD serves as Chief Medical Officer. CoFi raised a $3.5 million seed round in June 2023 led by Las Olas Venture Capital with participation from Synchrony Ventures and angel investors. As of the most recent disclosures, the platform has onboarded 16,000+ vision providers (including approximately 1 in 4 U.S. optometrists and 2,000+ surgeons) and has processed $400M+ in patient payments, with no AI/ML capabilities disclosed in product, hiring, or patent data.
CoFi firmographics
Firmographics- Name
- CoFi
- Legal name
- CoFi, Inc.
- Website
- https://cofimd.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- CoFi operates a browser-based multi-party payment platform for elective ophthalmology procedures, enabling patients to pay surgeons, ASCs, and co-managing optometrists through one consolidated invoice with separate, AKS-compliant payments routed to each provider.
- Ownership category
- akta.pro rank
CoFi industry classification
Industry- Product category
- Healthcare Payment Processing
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Patient Financial Engagement (Estimates, Billing Presentment, Payments) (HLACAEAI)
- akta.pro secondary industries
- Revenue Cycle, Coding & Telehealth Compliance Platforms (for provider orgs) (HLALABAM), Healthcare Payouts (Payers-to-Providers, Patient Refunds) (FSAMAKAK)
Keywords
Where CoFi is headquartered
LocationHeadquarters
- HQ city
- Holliston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CoFi business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Transaction/Payment Processing: CoFi processes multi-party payments for elective medical procedures, likely earning transaction fees or a take rate on payments processed through the platform. The platform supports card, check, HSA, FSA, CareCredit, and Alphaeon Credit payments.
- Multi-Party Financing: Through integrations with CareCredit (Synchrony) and Alphaeon Credit, CoFi enables patient financing across multiple providers. This likely generates revenue through financing integration fees or usage-based arrangements with financing partners.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Not publicly disclosed - quote-based pricing |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
CoFi product offering
Product offeringCore offering
CoFi provides a browser-based, multi-party payment platform that enables patients to pay multiple healthcare providers (surgeons, ambulatory surgery centers, optometrists, anesthesiologists) through a single consolidated invoice and payment event, with each provider receiving payment separately and directly. The platform is purpose-built for healthcare compliance, including HIPAA and the Anti-Kickback Statute, and integrates patient financing options such as CareCredit and Alphaeon Credit for full-procedure financing across all providers.
Product overview
CoFi offers a unified multi-party payment platform for elective medical procedures, primarily serving ophthalmology practices, surgery centers, and optometrists. The core product is the Multi-Party Payment Platform, a browser-based SaaS enabling patients to pay multiple providers (surgeon, ASC, optometrist, anesthesiologist) through a single consolidated invoice and payment event. Key modules include Multi-Provider Financing (powered by CareCredit and Alphaeon Credit partnerships), Multi-Provider Price Lists, Real-Time Dashboards for provider visibility, and Enterprise Reporting for large customers. The platform is designed specifically for healthcare compliance, ensuring patients pay each provider separately and directly.
Differentiator
Problem solved
Functional benefit
Products and services
- CoFi Multi-Party Payment Platform A browser-based SaaS payment platform enabling patients to make separate, compliant payments to multiple healthcare providers (surgeons, ASCs, optometrists, anesthesiologists) through a single payment event. The platform consolidates cash-pay and out-of-pocket amounts across any number of providers into one invoice, with each party collecting directly from the patient.
- Multi-Provider Financing
Quantifiable outcome
- 16,000+ vision providers onboarded representing significant market penetration
- +5 more outcomes
Companies that use CoFi
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles4 records
CoFi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature6 records
CoFi partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered flagship and minor.
- MyEyeDr.flagshipMajor partnership with MyEyeDr., a leading eye health provider with 880+ locations across 29 states. MyEyeDr. has adopted CoFi as its standard payment platform for all surgical referrals to ophthalmologists. Patients referred for LASIK, cataract surgery, or other vision correction procedures receive a single comprehensive invoice for optometry and ophthalmology services.
- Synchrony (CareCredit)flagshipIntegration of Synchrony's CareCredit credit card into CoFi's multi-party payment platform. CareCredit is the leading healthcare financing solution, and the integration enables patients to finance consolidated care costs across all providers involved in vision procedures. CareCredit integration became market-wide available in February 2024.
- OOSS (Ophthalmic Outpatient Surgery Society)minorCoFi sponsored OOSS to support the ophthalmic ASC community. CEO Sean Hanlon participated in Ophthalmology Business Academy podcast discussing patient payment experience.
- Alphaeon CreditflagshipStrategic partnership to launch multi-party patient financing solution for ophthalmology practices. Through this integration, patients can finance fees across all providers involved in a procedure (surgeon, ASC, OD) with funds distributed directly to each party. Alphaeon Credit is issued by Comenity Capital Bank.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
CoFi competitors and assessment
Company assessmentDirect peers
- HealthPay24: HealthPay24 provides patient payment estimation, billing, and financing for hospitals and physician groups. It is comparable as a healthcare payment experience platform serving similar provider segments, though focused on larger health systems rather than ambulatory specialty practices.
- Cedar: Cedar is a patient financial engagement platform for healthcare providers that consolidates bills, estimates, and payment experiences. It is comparable to CoFi because both compete for provider payment workflows with a patient-experience-led design, though Cedar is generalist and CoFi is vertical-specialized.
- Rectangle Health: Rectangle Health offers payment processing and patient engagement tools to medical and dental practices. It is comparable as a healthcare-specialized payment platform serving ambulatory providers, though without CoFi's multi-party compliance architecture.
- Salucro Healthcare Solutions: Salucro provides patient billing, payments, and financing workflows for hospitals and ambulatory providers. It is comparable as a healthcare payments platform, with overlapping financing partnerships and patient payment experience focus.
- Phreesia: Phreesia provides patient intake, eligibility, and payment processing for healthcare practices at scale. It is comparable as a patient-facing payment and engagement layer deployed across large provider networks, though Phreesia is generalist and pre-visit focused rather than surgical multi-party focused.
Broad incumbents
- Nextech Systems: Nextech offers EHR and practice management software purpose-built for specialties including ophthalmology and ASCs. It is comparable as an embedded workflow platform serving CoFi's exact customer base, with the ability to bundle payment processing as a native feature.
- CareCredit (Synchrony): CareCredit is the dominant healthcare financing card, owned by Synchrony. It is a current CoFi integration partner and customer-funded investor, but also a potential competitive threat if Synchrony builds in-house multi-party payment functionality alongside CareCredit.
- Modernizing Medicine (ModMed): ModMed provides EHR and practice management systems with specialty-specific workflows, including ophthalmology (ModMed Ophthalmology). It is comparable as a workflow-embedded platform serving CoFi's same providers and a potential competitor if it adds multi-party payment capabilities natively.
- Alphaeon Credit (Comenity Capital Bank): Alphaeon Credit is a healthcare-focused financing provider owned by Comenity Capital Bank. It is comparable as a financing partner powering CoFi's multi-provider lending flow and serves overlapping ophthalmology and elective-practice customers.
Emerging players
- PatientPop (Tebra): PatientPop, part of Tebra, offers patient engagement, scheduling, and payment tools to independent practices. It is comparable as an SMB-ambulatory patient experience and payment platform, though without CoFi's multi-party compliance specialization.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
CoFi social profiles
Digital presenceCoFi compliance and trust
Trust signalCompliance1 record
CoFi financial estimates
Financial estimateRevenue estimate
Valuation estimate
CoFi leadership team
Management profileNumber of profiles
Profiles2 records
CoFi funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CoFi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CoFi
What does CoFi do?
CoFi provides a browser-based, multi-party payment platform that enables patients to pay multiple healthcare providers (surgeons, ambulatory surgery centers, optometrists, anesthesiologists) through a single consolidated invoice and payment event, with each provider receiving payment separately and directly. The platform is purpose-built for healthcare compliance, including HIPAA and the Anti-Kickback Statute, and integrates patient financing options such as CareCredit and Alphaeon Credit for full-procedure financing across all providers.
Is CoFi a public or private company?
CoFi is a private company. It is classified as venture growth investor backed and is currently operating.
When was CoFi founded?
CoFi was founded in 2021. It employs 11 to 50 people.
Where is CoFi based?
CoFi is headquartered in Holliston, United States, in the North America region.
How does CoFi make money?
Two revenue lines are on record. Transaction/Payment Processing is the primary driver. The others are multi-Party Financing.
Who are CoFi's main competitors?
Direct peers on record are HealthPay24, Cedar, Rectangle Health, Salucro Healthcare Solutions and Phreesia. Broad incumbents are Nextech Systems, CareCredit (Synchrony), Modernizing Medicine (ModMed) and Alphaeon Credit (Comenity Capital Bank). PatientPop (Tebra) is listed as an emerging player.
Does CoFi have an API?
No public API is recorded for CoFi.
What industry is CoFi in?
CoFi's product category is Healthcare Payment Processing. Its primary akta.pro industry code is HLACAEAI, Patient Financial Engagement (Estimates, Billing Presentment, Payments), with a secondary code of HLALABAM, Revenue Cycle, Coding & Telehealth Compliance Platforms (for provider orgs). Its NAICS code is 524292 and its SIC code is 6324.