Fintech Cherry Pitches Bond Tied to Cosmetic Surgery Loans

Payment company Cherry Technologies is sounding out investors for a bond that would be tied to “buy-now, pay-later” loans for cosmetic surgery and other aesthetic treatments, as demand for medical debt surges, according to people with knowledge of the matter.

The San Francisco-based startup is working with Barclays Plc on a potential health care asset-backed deal in the broadly syndicated market and has started lining up investor meetings for the coming weeks, said the people, who asked not to be named as the details are private. The bond would be backed by consumer loans that Cherry hands out for anything ...