Billed As Rivals, Health Care Payments Startups Peachy and Walnut Join Forces

Keerthi Vedantam

Keerthi Vedantam is a bioscience reporter at dot.LA. She cut her teeth covering everything from cloud computing to 5G in San Francisco and Seattle. Before she covered tech, Keerthi reported on tribal lands and congressional policy in Washington, D.C. Connect with her on Twitter, Clubhouse (@keerthivedantam) or Signal at 408-470-0776.

Billed As Rivals, Health Care Payments Startups Peachy and Walnut Join Forces
Photo courtesy of Peachy

When Lex Oiler, co-founder and CEO of Los Angeles-based health care payments startup Peachy, first met for coffee with Roshan Patel, her counterpart at New York-based Walnut, she says she tried to break the ice by asking, “So—mergers and acquisitions?”

The quip came from the fact that many venture capital investors viewed the two startups as competitors, according to the founders, since both are tackling the complex web of health care payments. Walnut allows patients to pay large medical bills in manageable installments, while Peachy streamlines payment collection while also helping patients maintain and improve their credit scores.


But what may have started as a lighthearted joke turned out to be a serious business proposition. After hashing out the details over months and bringing their teams together via a shared Slack channel, the companies unveiled a partnership earlier this month that will give customers the ability to use Walnut’s financing options when paying a bill through Peachy.

“Health care is so broad—no one company is just going to fix health care and be done with it,” Patel told dot.LA. “Peachy and Walnut basically solve two different parts of the tech stack, and we thought combining actually creates a much more compelling solution for both patients and health care providers.”

Walnut CEO Roshan Patel.

Courtesy of Walnut

Both startups were informed by their founders’ trying experiences with health care payments. Patel, whose parents ran a pharmacy, witnessed their struggle to negotiate paying off an unexpected $5,000 medical bill after his sister got into a car accident. Oiler spent a year chasing a forgotten $144 medical bill that negatively impacted her credit report and made it difficult for her to get approved for a home loan.

“If you harm someone's financial health, you harm their mental health [and] their physical health is impacted,” Oiler said. “Here we are 15 years later and my family, me included, we're still afraid to go to the doctor when something's wrong. Even though I have health insurance, that doesn't really mean anything.”

Two-year-old Walnut—which raised $3.6 million in seed funding last year from the likes of Silicon Valley-based Gradient Ventures and New York-based Supernode Ventures—works with individuals and health care providers alike to help patients manage large bills in smaller increments, with no fees and financing options starting at 0% interest. Peachy, which was also founded in 2020, works closely with providers to make the process of paying a bill as seamless as possible; its platform sends patients bills and payment reminders via text and email, while also allowing them to pay on their phones. The L.A. startup has onboarded nearly a dozen providers to date while in beta testing.

The partnership is one of several in the works for Peachy, which will be announcing more in the coming months designed to address gaps in what Oiler considers a segregated and outmoded health care system. The founder—a self-described anti-capitalist and Medicare-for-all proponent—says she isn’t interested in competing with others when it comes to health care, and is going so far as to refuse funding from insurance companies.

Peachy raised $1.9 million in seed funding in early 2021 led by investors Village Global, City Light Capital and Alumni Ventures, with $110,000 of that amount raised through crowdfunding. When the startup was fishing for more funding last summer, Oiler says she turned down two term sheets worth $2 million apiece due to fundamental disagreements over how the company should be run, and instead opted to collect some $800,000 instead. Peachy plans on fundraising again this spring.

“You put venture funding behind something, and all of a sudden it turns into a numbers game,” according to Oiler. “ I think that we have been really lucky at bringing on investors who trust me and my co-founder [Peachy CTO PJ Santoro] to make very smart, educated decisions based on what's best for the patient.”

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LA’s Upgrade in Travel and NBA Viewing
Image Source: Los Angeles World Airports

🔦 Spotlight

Exciting developments are underway for Los Angeles as the city prepares for major upgrades in both travel and entertainment. The Los Angeles Board of Airport Commissioners has approved an additional $400 million for the Automated People Mover (APM) at LAX, increasing its total budget to $3.34 billion. This boost ensures the elevated train’s completion by December 8, 2025, with service starting in January 2026. For Angelenos, this means a significant improvement in travel convenience. The APM will streamline connections between parking, rental car facilities, and the new Metro transit station, drastically cutting traffic congestion around the airport. Imagine a future without the dreaded 30-minute traffic delays at LAX! The APM will operate 24/7, reducing airport traffic by 42 million vehicle miles annually and carrying 30 million passengers each year, while also creating thousands of local jobs and supporting small businesses.

Meanwhile, the NBA is also making waves with its new broadcasting deals. The league has signed multi-year agreements with ESPN, NBC, and Amazon Prime Video, marking a notable shift in media partnerships. ESPN will maintain its long-standing role, NBC returns as a network broadcaster after years away, and Amazon Prime Video will provide NBA games through its streaming platform. Starting with the 2025-2026 season, these deals will enhance the league's reach and revenue, aligning with the NBA's goal to expand its audience and adapt to evolving viewing habits. Whether you're catching the action on TV or streaming online, these changes promise to elevate the fan experience and bring more basketball excitement to Los Angeles.


🤝 Venture Deals

LA Companies

  • Pearl, a startup that makes AI-powered software that assists dentists in identifying cavities, gum disease, and other dental conditions, raised a $58M Series B funding led by Left Lane Capital with Smash Capital, and others also participating. - learn more

LA Venture Funds

  • Fulcrum Venture Group participated in a prior $3.5M Pre-Seed Round for Code Metal, a developer tools startup. - learn more
  • B Capital co-led a $12.5M Seed Round for Star Catcher, a startup that aims to develop a space-based grid that captures solar energy in space and distributes it to satellites and other space assets. - learn more
  • Mantis VC and Amplify participated in a $140M Series C for Chainguard, an open source security startup. - learn more
  • Prominent LA venture capitalist, Carter Reum and wife, Paris Hilton, participated in a $14M Seed/Series A for W, the men’s personal care brand from Jake Paul. - learn more

LA Exits


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🤫 The Secret to Staying Fit at Your Desk: 6 Essential Under-Desk Exercise Machines

Health experts are sounding the alarm: our sedentary jobs are slowly killing us, yet we can't abandon our desks if we want to keep the lights on. It feels like we're caught between a rock and a hard place. Enter under-desk exercise machines – the overlooked heroes (albeit kind of goofy looking) of the modern workspace. These devices let tech professionals stay active, enhance their health, and increase their productivity, all without stepping away from their screens. Here are 6 fantastic options that will enhance the way you work and workout simultaneously.

DeskCycle Under Desk Bike Pedal Exerciser

This bike has nearly ten thousand five-star reviews on amazon. It works with nearly any desk/chair setup. It is quiet, sturdy and allows up to 40 pounds of resistance. If you are looking for an under-desk bike this is a fantastic option.

Type: Under-Desk Bike

Price: $180 - $200


Sunny Health & Fitness Dual Function Under Desk Pedal Exerciser

This under-desk bike is extremely quiet due to the magnetic resistance making it an ideal option if you work in a shared space. It doesn’t slip, has eight levels of resistance, and the option to work legs and arms. It’s about half the price of the DeskCycle bike making it a solid mid-range option for those looking to increase their daily activity.

Type: Under-Desk Bike

Price: $100 - $110


Sunny Health & Fitness Sitting Under Desk Elliptical

This under-desk elliptical comes in multiple colors if you really want to underscore that you are a quirky individual, in case an under-desk elliptical isn’t enough. This model is a bit heavy (very sturdy), has eight different resistance levels, and has more than nine thousand 5-star reviews.

Type: Under-Desk Elliptical

Price: $120 - $230


DeskCycle Ellipse Leg Exerciser

This under-desk elliptical is another great option. It is a bit pricey but it’s quiet, well-made and has eight resistance levels. It also syncs with your apple watch or fitbit which is a very large perk for those office-wide “step” challenges. Get ready to win.

Type: Under-Desk Elliptical

Price: $220 - $230


Daeyegim Quiet LED Remote Treadmill

If you have a standing desk and are looking to walk and work this is a fantastic option. This walking-only treadmill allows you to walk between 0.5 to 5 mph (or jog unless you have the stride length of an NBA forward). It is very quiet, which is perfect if you want to use it near others or during a meeting. You can’t change the incline or fold it in half but it is great for simply getting in some extra steps during the work day.

Type: Under-Desk Treadmill

Price: $220 - $230


Sunny Health & Fitness Foldable Manual Treadmill

This under-desk treadmill isn’t the most premium model but it is affordable and has an impressive array of features. It is a manual treadmill meaning it doesn’t need to be plugged in; it is foldable and offers an incline up to 13%. I personally can’t imagine working and walking up a 13% incline but if that sounds like your cup of tea, then I truly respect the hustle.

Type: Under-Desk Treadmill

Price: $150 - $200




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🤠Musk Picks Texas and 🔥Tinder AI Picks Your Profile Pictures

🔦 Spotlight

Tinder is altering dating profile creation with its new AI-powered Photo Selector feature, designed to help users choose their most appealing dating profile pictures. This innovative tool employs facial recognition technology to curate a set of up to 10 photos from the user's device, streamlining the often time-consuming process of profile setup. To use the feature, users simply take a selfie within the Tinder app and grant access to their camera roll. The AI then analyzes the photos based on factors like lighting and composition, drawing from Tinder's research on what makes an effective profile picture.

The selection process occurs entirely on the user's device, ensuring privacy and data security. Tinder doesn't collect or store any biometric data or photos beyond those chosen for the profile, and the facial recognition data is deleted once the user exits the feature. This new tool addresses a common pain point for users, as Tinder's research shows that young singles typically spend about 25 to 33 minutes selecting a profile picture. By automating this process, Tinder aims to reduce profile creation time and allow users to focus more on making meaningful connections.

In wholly unrelated news, Elon Musk has announced plans to relocate the headquarters of X (formerly Twitter) and SpaceX from California to Texas. SpaceX will move from Hawthorne to Starbase, while X will shift from San Francisco to Austin. Musk cited concerns about aggressive drug users near X's current headquarters and a new California law regarding gender identity notification in schools as reasons for the move. This decision follows Musk's previous relocation of Tesla's headquarters to Texas in 2021.

🤝 Venture Deals

LA Companies

LA Venture Funds

LA Exits

  • Penguin Random House agreed to acquire comic book publisher Boom! Studios from backers like Walt Disney Co. - learn more

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