KING OF PRUSSIA, Pa., Nov. 12, 2020 /PRNewswire/ -- FinPay Holdings, Inc., the leader in patient financial management, announced today that it has closed a $5 million Series C financing round. The round was led by Montreux Growth Partners, a California-based leader in healthcare growth investing. This latest funding provides strategic capital to fuel rapid growth and accelerated product and technology innovation. FinPay's revenue has grown over 150% since last year and continues to accelerate even during COVID-19 challenges.
FinPay's patient financial management solution provides a technology enabled, fully managed solution that improves patient education, financial literacy, and affordable access to care, while also providing the analytic insights to manage financial risk and maximize receipt of patient financial responsibility for healthcare providers.
"Our rapid growth even during these challenging times further highlights the unique and market-changing impact of the FinPay patient financial management solution to the Behavioral Health and Acute Care markets. We are honored that Montreux Growth Partners, a recognized leader in healthcare growth investing, has joined our Board of Directors and chosen to invest in our strategy of improving patient financial management," said Tim Kowalski, president and CEO of FinPay Holdings, Inc.
"We are excited to partner with FinPay to create the market leading SaaS healthcare payments platform. The company's rapid growth and adoption has been impressive. With our focus on high growth, commercial-stage companies in healthcare IT, we look forward to working with FinPay as they expand their customer base and new product innovation," said Daniel K. Turner III, Managing Partner of Montreux Growth Partners.
FinPay is committed to solving the affordability crisis in healthcare by enhancing the patient financial experience through pre-care engagement, expanding healthcare financial literacy, advocating for cost transparency, and offering affordable payment options, to maximize patient payments, affordable access to care, and great patient satisfaction.
For media or analyst inquiries, please contact:
John Ziegler, CFO
About Monteux Growth Partners
Montreux is dedicated to making growth capital investments in category-leading companies with products, technologies, and services that are advancing health. Montreux has invested in more than 60 companies across multiple funds. Within healthcare IT, Montreux has built a strong track record with leading companies such as MINDBODY (NASDAQ: MB, acquired by Vista Equity Partners), Kareo, and Tiger Connect. Montreux was also the lead investor in payments company Paymap (acquired by First Data Corp.). For more information please visit the company's website at www.mepvc.com.
SOURCE FinPay Holdings, Inc.