King of Prussia-based FinPay Closes $15M Capital Raise, Plans to Use Funds to Once Again Double Revenue

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FinPay Holdings, the King of Prussia fintech, has closed its $15 million capital raise and is planning to use the funds to double revenue once again this year, writes Jeff Blumenthal for the Philadelphia Business Journal.

FinPay offers specialized medical providers patient engagement and financial management software.

The financing round was led by PeakSpan Capital, which specializes in growth-stage software investing. Montreux Growth Partners, which focuses on healthcare growth investing, also took part in the round.

According to FinPay CEO Tim Kowalski, the capital raised is needed due to the company’s fast-paced growth fueled by its focus on the constantly growing behavioral health and substance abuse provider world.

“We raised the $15 million so we can continue to invest in a whole litany of what we think are market-changing capabilities that will be rolled out in the second half of this year,” said Kowalski. “We’ll also be further investing in our go-to market strategy. We sell to providers. We have direct sales personnel, but we also have a very robust partnership strategy and will be further investing in both of those areas.”

Read more about FinPay and the plan to double revenue with the new 15 million capital raise in the Philadelphia Business Journal.

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