Fintech: Southeast News

Fintech Southeast News curated each weekday for Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee

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Posted October 07, 2021

 

ClassWallet, the leading digital wallet technology for K-12 education, experienced record-breaking growth in its 2021 fiscal year ending July 31 with a more than sevenfold increase in gross business, triple digit growth in both transaction volume and revenues, a significant number of federal, state and district contracts and a nearly tripling of staff requiring a move to a larger headquarters facility.

The privately held company, based in Hollywood, Florida and founded in 2014, is rapidly becoming a de facto standard in the education market. Used by 13 state agencies and 3,900 schools in 23 states serving 2.5 million students, the innovative accounts payable solution and digital wallet technology manages classroom supplies and facilities maintenance purchases, emergency funding and student scholarship programs. ClassWallet handles accounts payable funds via its patented fintech platform and digital wallet technology, for teacher and maintenance staff spending, as well as for managing and disbursing federal and state scholarship and grant monies to families, schools and districts.


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