# Bend Financial

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/bend-financial

- Industry: Internet
- Headquarters: Boston, US
- Website: www.bendhsa.com
- Latest round: Angel (May 6, 2015)
- Investors on record: 1

## About

Bend Financial Inc. is a fintech company specializing in innovative health savings accounts (HSAs), offering automated solutions for individuals and employers to optimize their health benefits efficiently.Founded in 2017 in Boston, US, Bend Financial Inc. focuses on simplifying health savings account management. The company was co-founded by Gary Rush, Gregg Santabarbara, Kerry Leonard, and Thomas Torre, who also serves as the CEO. Bend Financial has completed two deals, with its most recent deal occurring on February 16, 2022, when Webster Financial Corp. agreed to acquire it for an undisclosed sum.Bend HSA specializes in providing innovative health savings accounts (HSAs) tailored for individuals, employers, and partners. Its core offerings focus on streamlining the HSA management process through automated and paperless enrollment options, quick payroll integration, and enhanced tax-saving opportunities. Bend's platform is designed to empower users to maximize their HSA benefits while minimizing administrative headaches, making it accessible even for those without financial expertise. The platform leverages advancements in artificial intelligence to enhance user experience and support. Bend serves a diverse client base that includes millions of consumers and employers across various geographical markets, specifically targeting the U.S. healthcare landscape where HSAs are increasingly utilized as part of employee benefits packages.Bend HSA generates revenue primarily through partnerships with employers and financial institutions, focusing on a B2B model that facilitates direct service provision to organizations offering HSAs to their employees. The company's transaction structure includes subscription services for employers who seek to provide HSAs, whereby they can access Bend’s comprehensive platform and tools. Additionally, Bend's innovative features and user-friendly dashboard enhance client engagement, promoting higher adoption rates among employees. While specific pricing plans are not disclosed, Bend is positioned to deliver significant value to its clients through its suite of services, which are designed to optimize employee participation in health savings plans and improve overall financial health.Following the acquisition by Webster Financial Corp., Bend Financial plans to leverage new resources to enhance its product offerings and expand into additional markets. The company is exploring new features for its HSA platform, which are expected to launch in the upcoming year. Moreover, Bend aims to tap into new geographic regions within the U.S. healthcare sector by the end of 2023. The recent funding is anticipated to support these growth initiatives and enhance product development.

## Funding rounds

- Angel, May 6, 2015 — Liuhe Capital

## Investors

- Liuhe Capital (https://capitalatlas.ai/funds/liuhe-capital) — Angel