How Stakk’s Deal with Peter Thiel-Backed Panacea Could Reshape Medical Fintech

Strategic Partnership with a High-Profile Neobank

Stakk Limited (ASX, SKK) has announced a multi-year Master Services Agreement with Panacea Financial™, a U.S.-based neobank division of Primis Bank (NASDAQ, FRST). Panacea Financial is notably backed by Silicon Valley investor Peter Thiel through Valar Ventures, which has invested over US$62 million in this healthcare-focused fintech platform. This partnership represents a significant milestone for Stakk as it extends its embedded finance footprint into a specialized and rapidly growing sector.

Embedded Finance Tailored for Medical Practitioners

Panacea Financial targets medical professionals including doctors, dentists, and veterinarians, addressing unique financial challenges such as student debt and practice financing. By leveraging Stakk’s Embedded Finance platform, Stakk IQ™, Panacea will integrate advanced mobile image capture, authentication, optical character recognition (OCR), and document orchestration technologies to streamline deposit acceptance processes. This tailored solution aligns with Panacea’s mission to provide bespoke financial services to a niche yet substantial market segment.

Revenue Model and Growth Prospects

The agreement stipulates revenue for Stakk through a monthly platform fee combined with usage-based transaction fees, with billing commencing in January 2026 for services rendered from December 2025 onwards. This recurring revenue model offers Stakk a steady income stream while positioning it for further expansion. Andy Taylor, Stakk’s Executive Director, emphasized the company’s strategy to capitalize on emerging niche verticals beyond Tier 1 brands, highlighting Panacea as a market leader with unmatched distribution, including partnerships with organizations like the American Dental Association.

Implications for Stakk and the Embedded Finance Market

This deal is the first of several anticipated partnerships that will see Stakk roll out its Embedded Finance solutions across various specialized industries. The collaboration with a Peter Thiel-backed neobank not only enhances Stakk’s credibility but also underscores the growing importance of embedded finance technologies in transforming traditional banking services, especially within underserved professional sectors.

Looking Ahead

As Stakk begins to generate revenue from this agreement, investors will be watching closely for updates on additional contracts and the broader adoption of its Stakk IQ™ platform. The company’s ability to scale within niche markets could define its trajectory in the competitive fintech landscape.