FinPay Grabs $15M in Growth Fundraising Round

Patient engagement and financial management FinTech platform FinPay Holdings has wrapped up a $15 million growth round that will help the company achieve “exponential growth and accelerated product and technology innovation,” according to a Monday (March 28) press release.

Growth-stage software investment firm PeakSpan Capital led FinPay’s fundraising effort, with healthcare growth investor Montreux Growth Partners. As part of its investment, PeakSpan will also get a seat the table as a member of FinPay’s board of directors, the release stated.

FinPay’s revenue has grown more than 360% in the last two years, according to the release, and the company continues to boost its base of clients and patients with a platform that features a technology-enabled, managed solution to improve patient education and engagement using proprietary technology-driven patient analytics.

“FinPay has experienced accelerating growth over the last two years due to our focus and investment in our proprietary analytics, data-driven technology, fully managed patient engagement and financial responsibility platform,” said FinPay Holdings President and CEO Tim Kowalski in the release. “This unique solution has allowed us to provide game-changing financial improvements to providers in the behavioral health and acute care markets.”

Last week, Berlin-based FinTech Kadmos closed an 8.3-million-euro (about $9.1 million) seed funding round that it plans to use to hire staff, expand across industries and accelerate product development. With its focus on migrant workers and a base in the shipping industry, the startup said it plans move into the construction, healthcare and hospitality sectors where salary payments are similar.

Read more: German FinTech Kadmos Closes $9.1M Seed Round

German pre-seed funding company Addition led Kadmos’ fundraising with contributions from existing investor Atlantic Labs. Other investors included FinTech angels with backgrounds at Stripe, SumUp, True Layer and Moss.

Kadmos plans to launch by the end of March and already has commitments from a dozen customers.