SupportPay by Ittavi, a Sacramento, CA-based child support payment startup, raised $4.1m in Series A funding.
The round was led by Fenway Summer Ventures with participation from Moneta Ventures, Continental Advisors, and previous investors. In conjunction with the funding, Javier Saade, Managing Director at Fenway Summer Ventures and Paul Purcell, co-Founder and Partner at Continental Advisors joined SupportPay’s Board of Directors.
The company, which has raised over $7m since 2014, will use the funds to expand its team as well as ramp up marketing efforts to further its reach to parents, family law professionals, and government agencies across the country.
Led by Sheri Atwood, Founder & CEO, and Jyoti Das, Chief Technology and Operations Officer, SupportPay provides a platform to automate child support payments and enable parents to share related expenses.
SupportPay manages the base payments as well as track the additional shared expenses – such as medical, child care, education, or extracurricular activities.
With the platform – available online, mobile apps for iOS and Android, and tablets – parents can pay one another through the app, keep detailed records, set payment reminders, dispute/approve charges, and print court-certified documents.
SupportPay currently has nearly 40,000 users.
FinSMEs
13/12/2016