StretchDollar, a startup platform for administering ICHRAs, has closed on a series of seed rounds for a total of $6 million in funding.
The funding round was led by Oscar Health and Fika Ventures and will support the expansion of StretchDollar's self-service platform and other benefits for small businesses, according to a Dec. 3 news release.
Employer adoption of ICHRAs is up 29% since 2023. The number of employees offered an ICHRA now exceeds 200,000 nationwide, which does not include dependents — some estimates have said more than 500,000 people are enrolled.