Last deal

$95M

Amount

Private Equity

Stage

15.08.2023

Date

7

all rounds

$101.8M

Total amount

General

About Company
ClassWallet digitizes and automates financial tasks for the public sector.

Industry

Sector :

Subsector :

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Also Known As

Kleo

founded date

01.01.2014

Number of employees

Company Type

For Profit

Last funding type

Private Equity

IPO status

Private

Description

Founded in 2014, ClassWallet is a leading financial technology company that offers an educational spend management platform, which streamlines the manual and time-intensive tasks of collecting receipts, reconciling invoices, and making vendor and reimbursement payments for the public sector. The company's web-based spend management tool combines funds disbursement, e-commerce, a reloadable debit card, and tracking in an integrated manner, enabling teachers to collect, manage, track, and spend funds for the classroom. ClassWallet's integrated marketplace of leading suppliers and learning curricula includes top retailers like Amazon, Office Depot, Staples, Scholastic, School Specialty, Lakeshore Learning, and more. The platform is used in 27 states and by 19 state agencies, across 6,200 schools serving 4.1 million students, saving valuable time and overhead costs to track, pay, and report on decentralized purchases. ClassWallet is headquartered in Miami and has been ranked number 779 on the prestigious Inc. 5000 list of the fastest-growing private companies in the U.S. in 2022 and the 56th fastest-growing financial services company in the nation.
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