PayFlex provides employee benefits administration products and services, such as flexible spending and health savings accounts. The company was founded in 1987 and is based in Omaha, NE. On April 5th, 2022, PayFlex was acquired by Millennium Trust Company. Terms of the transaction were not disclosed.
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Research containing PayFlex
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CB Insights Intelligence Analysts have mentioned PayFlex in 1 CB Insights research brief, most recently on Sep 8, 2021.
Latest PayFlex News
Nov 16, 2022
Laszlo, 41, replaces Gary Anetsberger, who now serves as executive chairman. Anetsberger worked at Millennium Trust for 20 years and was CEO for the last six years. “Dan’s strategic mindset and strong financial acumen—coupled with his deep industry knowledge and years of executive leadership experience at Millennium Trust—will be instrumental in guiding the company in its new era of growth,” Anetsberger said in a statement. Laszlo joined Millennium Trust nearly seven years ago as CFO and then also assumed COO duties following the company’s acquisition of Omaha, Neb.-based health savings account provider PayFlex from CVS. Millennium Trust bought PayFlex to help expand its retirement, wealth, health and benefits-related financial services. The deal closed June 1, said spokesperson Maggie McCuen. Millennium Trust, founded in 2000, established itself by offering retirement accounts and other financial services to employers, wealth advisers and individuals. Now with PayFlex, Millennium Trust is able to offer health savings and reimbursement accounts, flexible spending accounts, COBRA plans and other health care-related services. Millennium Trust has more than $55 billion of total assets under supervision reaching over 60,000 employer plan sponsors and across 5.5 million individual clients, as of Oct. 31, McCuen said. Additionally, the firm was No. 43 on Crain’s 2022 Fast 50 list. It reported being profitable with $250.3 million in 2021 revenue, the year before it acquired PayFlex. McCuen said Millennium Trust now employs 1,100 people across the company. Crain's Health Pulse Chicago: Exclusive, actionable intel on the local health care industry. Email Address
PayFlex Frequently Asked Questions (FAQ)
When was PayFlex founded?
PayFlex was founded in 1987.
Where is PayFlex's headquarters?
PayFlex's headquarters is located at 10802 Farnam Drive, Omaha.
What is PayFlex's latest funding round?
PayFlex's latest funding round is Acquired - II.
How much did PayFlex raise?
PayFlex raised a total of $50.2M.
Who are the investors of PayFlex?
Investors of PayFlex include Millennium Trust Company, Aetna and Oak Investment Partners.
Who are PayFlex's competitors?
Competitors of PayFlex include Bright.MD and 1 more.
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