Nitra

Nitra is a New York-headquartered company that builds an all-in-one, AI-native operating platform for healthcare practices and their back offices. Its entry product is a Visa-powered business expense card designed for physicians, paired with spend management, business analytics and reconciliation software. Around that card the company has layered financial automation (bill pay, expense management, patient payment processing and AI agents for healthcare accounting), capital products (lending, equipment financing and insurance factoring), commerce and inventory tools, and patient-facing administration.

The commerce layer, marketed as NitraMart and Nitra Rx, gives practices direct access to tens of thousands of biopharmaceutical and medical equipment products through partnerships with distributors including McKesson and Medline, with AI procurement agents that handle supplier onboarding, price negotiation, purchasing and inventory monitoring. A patient management module launched in March 2026 uses voice AI agents, branded Trina, for phone answering in multiple languages, scheduling, benefits verification and insurance eligibility checks; the assistant also codes invoices, matches receipts and syncs with Nextech and QuickBooks. The platform is positioned to sit on top of a practice's existing bank accounts and EHR rather than replace them, with white-glove onboarding, and back-office modules such as BillPay, Accounting and Expenses offered at no additional software fee to Nitra Card customers.

Nitra targets specialties it describes as underserved by large banks, including ophthalmology, optometry and retina, plastic surgery, dermatology, med spa and injectables, dental specialty practices and IVF centers, as well as multi-site groups, MSOs and hospital-affiliated networks. The company cites SOC 2 Type II compliance, funds held at an FDIC-insured partner bank and operation on the Visa business network.

Founding story

Co-founders Tim Hwang and Jonathan Chen had previously worked together at legaltech company FiscalNote, which Hwang co-founded and took public before turning 30 after working on Barack Obama's 2008 presidential campaign and studying public policy at Princeton. Hwang traces the focus on healthcare to March 2020, when coverage of personal protective equipment shortages and intensive care unit overflows during COVID-19 highlighted structural weaknesses in the system; he and Chen decided their next company would be a long-term project in healthcare.

Business model

Nitra monetizes a land-and-expand model that begins with a healthcare-specific charge card and expands into lending, equipment financing, insurance factoring, a medical supplies and pharmaceutical marketplace, and AI-driven back-office and patient administration modules. Bill pay, accounting and expense tools are bundled free with the Nitra Card, without per-seat, per-transaction or subscription fees, while the card, capital products and marketplace commerce carry the economics. The company reported annualized revenue growing from about $4 million to over $33 million during 2025.

Revenue derives from card and payments volume, lending and financing products, and marketplace/procurement transactions rather than software subscriptions; the software layer is bundled with the card.

Traction

As of the March 2026 announcement, Nitra reported more than 700 clinics and thousands of doctors on the platform, 2,500+ healthcare professionals, over $1 billion in annualized processing volume, and over $33 million in annualized revenue as of December 2025 after roughly 740% (about eight-fold) growth during 2025. In December 2025 it supported upwards of $9 million in biopharma and medical purchases in a single day. Stated 2026 targets are more than 3,000 clinics, over $150 million in annualized revenue and over $4 billion in annualized processing volume, with headcount growing from 50 to more than 200.

Latest developments

On March 10, 2026, Nitra announced $187 million in financing spanning its Series A and Series B rounds, venture debt and an expanded warehouse facility, bringing total capital raised to $205 million and total equity raised to $90 million. Dr. Richard Park, founder and former CEO of CityMD, joined the board. The company launched its Patient Management module with voice AI agents in March 2026 and said it plans additional AI modules in revenue cycle management, patient marketing, and payroll/staffing. It also announced a Future of Care Initiative committing $20 billion in financing for independent medical practices.