Founders Everywhere: Ethan Schwarzbach and Jaime Deverall
Ethan Schwarzbach and Jaime Deverall are the co-founders of Flychain, a startup building the Financial Operating System for small to medium-sized healthcare providers.
Welcome to Founders Everywhere, where we highlight the incredible people behind the companies we’ve backed at Everywhere Ventures, a global pre-seed fund supported by a community of 500 founders and operators.
The journey of starting, operating, scaling, and selling a healthcare business produces endless operational and financial challenges. Flychain is helping healthcare providers navigate this journey with its Financial Operating System, which brings together working capital, automated accounting, insurance revenue intelligence, savings opportunities, and valuation services under a single roof. Flychain’s mission is to optimize the financial health of healthcare providers so they can spend less time in spreadsheets dealing with cash flow issues and more time with patients.
Flychain was co-founded by Ethan Schwarzbach, CEO, and Jaime Deverall, CTO. Ethan was inspired to start the company after witnessing his father, a dentist, encounter operational and financial challenges throughout the lifecycle of growing and ultimately selling his practice. Ethan met Jaime through the MoVi Community and, given their shared interest in using FinTech to benefit small businesses, embarked on the Flychain journey.
What is Flychain’s North Star?
Flychain’s mission is to optimize the financial health of small to medium-sized healthcare providers. By taking care of the financial side of their business, we aim to enable providers to grow their practice sustainably and look after more patients in their communities.
How does Flychain inspire “customer love”?
Flychain started by solving our customers’ most pressing need - working capital. The small business lending world is full of predatory lenders, who destroy businesses by trapping them in a vicious cycle of debt. By providing working capital at an affordable interest rate (often the lowest rates that our customers have ever qualified for), we earn their trust and differentiate ourselves from the predatory lenders they are used to. This earned trust enables us to spend quality time with our customers and hear about their most significant financial challenges. These conversations and learnings have informed our broader Financial Operating System, which aims to solve the full spectrum of our customers’ financial needs.
What’s on the horizon for Flychain?
Based on the financial challenges that we’ve heard from customers over the past year, our Financial Operating system will be launching this quarter, which will include working capital, automated accounting, insurance revenue intelligence, savings opportunities, and valuation services. We've also partnered with several Revenue Cycle Management, EMR, and Practice Management platforms to white-label our Financial OS and offer it to their customers as a value-added service. We're excited to launch these partnerships this year, as we think it's a win-win for everyone involved and a great way to get our Financial OS into the hands of as many providers as possible.
Any book or podcast recommendations?
Ethan: I really like The Startup Owner's Manual: The Step-By-Step Guide for Building a Great Company by Steve Blank and Bob Dorf (it was on my desk during the call so felt appropriate).
We are eager to connect with anybody who is building a company in healthcare. Whether you are providing direct care or building an EMR, RCM, or Practice Management solution - we’d love to meet you and explore partnership opportunities! Feel free to reach out via email to firstname.lastname@example.org or email@example.com.
Jaime: I love music and was a backup singer for Wiz Khalifa. I used to be very serious about it, but now it’s for fun because startup life is all encompassing.
Ethan: I love movies and have written 5 feature length screenplays. I used to be mildly serious about it, but my only remotely Hollywood connection is (was) Wiz Khalifa.
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