May 1, 2023, repost from PRNewswire, New York -- Nitra, which provides smart spending management solutions and business support for private practice physicians, is joining Visa's Fintech Fast Track Program, gaining access to the company's global payment network, VisaNet.
The program allows Nitra to quickly implement cutting-edge financial tools, enabling faster and more secure transactions. Payments, transfers and virtual cards will all be streamlined and simplified. Nitra will also gain access to Visa's growing partner network, providing the company with world-class support and guidance.
"Nitra's role is to help doctors in private practice manage their business and save time for what matters most—their patients," said Jonathan Chen, founder and CEO of Nitra. The tools and expertise provided by Visa will be instrumental in delivering more value to our customers, and will enable more opportunities to spend at merchants in more places around the world."
"At Visa, we understand a shift to digital has impacted how money moves and what businesses need." said Vanessa Colella, SVP and Global Head of Innovation and Digital Partnerships at Visa. "By joining Visa's Fintech Fast Track program, exciting Fintechs like Nitra gain unprecedented access to Visa experts, technology, and resources to efficiently scale and bring innovative solutions to market."
Nitra was founded with a mission to bring smart financial products to private practice physicians in the healthcare industry. The Nitra Visa Business Card offers cash-back rewards of up to 5 percent on practice purchases, discounts at medical suppliers, and business-friendly features such as automatic reconciliation and no-fee virtual cards.
Nitra Helps Medical Companies Weather Bank Crisis
During bank crisis in March, many in healthcare and health technology were desperate to access deposited funds, Nitra provided short-term funding solutions to help them weather the crisis.
Nitra, which typically provides smart spend management solutions and business support to medical practices, pivoted to serve the broader healthcare community with short-term loans and business cards that companies could use to make payroll, pay vendors, and otherwise remain operational. Given the continued need the company sees from healthtech peers, Nitra has committed to continuing its support of this sector, enabling companies to be better prepared for future uncertainty and ensuring they are continually able to quickly access funds.
"We understand the unique challenges that healthcare-focused tech companies face, especially during times of crisis," said Jonathan Chen, founder and CEO of Nitra. "We were proud to offer our services to those affected by the banking problems. Our goal was to help keep money moving and provide the liquidity these companies need—and we will continue to do so."
Nitra is backed by some of the world's leading venture capital firms, including Andreessen Horowitz, NEA, Pantera Capital, KB Financial Group, Jerry Yang/AME Cloud Ventures, and Will Smith's Dreamers VC. The company's mission is to bring modern financial products, integrated medical software, and supply chain solutions to medical practices.
As such, Nitra is uniquely positioned to help healthcare companies maintain purchasing power and liquidity through short-term business loans and the Nitra Visa Business Card, which offers unlimited 2% cash back, credit limits of up to $500,000, and integrated spending and payment controls.
"Our mission is to help healthcare companies thrive," Chen said. "Part of that is offering financial tools that allow companies to remain flexible, diversified and able to operate with confidence, even in uncertain times."
Nitra partners with Walmart to Offers Walmart Business+ Trial to Doctors
Walmart Business is designed to save small businesses and nonprofits time, money, and hassle. The Walmart Business+ membership offers free shipping, no minimum and 2% back in Walmart Business Rewards on orders $250 or more, among other benefits.
Nitra card holders can now receive a free 6-month trial of Walmart Business+
"Walmart is one of the biggest retailers in the world, and we are proud to be working together," said Jonathan Chen, founder and CEO of Nitra. "Walmart Business's goal of supporting small enterprises aligns well with Nitra's mission to build a simpler, smarter way for healthcare practices to manage their expenses and create time for what matters.
The Nitra Visa Business Card offers unlimited 2% cash-back rewards on practice purchases, discounts at medical suppliers, and business-friendly features such as automatic reconciliation, in-depth spend analytics and insights, and unlimited virtual cards.
Nitra is enabling smarter spending for the next generation of healthcare. We offer a simpler, automated way for healthcare practices to manage their spending and create time for what matters. With streamlined accounting, a clear overview of spending, and access to exclusive rewards, our members are empowered to find the right balance between supporting their patients and running their practice.