April 11, 2015
With a referral network of more than 2,500 legal professionals, 27% monthly growth rate and the release of new updates to the platform which features the ability to export court-approved documents and the ExpenseWizard to automate entry of payments on recurring expenses, SupportPay is transforming the timely, stressful process of shared child expenses for divorced or separated parents, and blended families.
“There is a misconception that child support is a one and done payment each month, typically done through wage garnishment. But the monthly base payment doesn’t even begin to cover everything a child needs – and that’s when the fighting begins,” said Founder Sheri Atwood. “We’re extremely grateful to our investors for providing us with even more opportunities to help the hundreds of millions of parents across the globe eliminate the arguments, and focus on what is important – raising happy, healthy children.” This market includes the nearly 39 Million parents in US who exchange more than $200 Billion in shared expenses every year.
“SupportPay is following an incredible trajectory of growth, and we expect that to only continue as market demand grows,” said Mark Ghermezian, Managing Partner of T5 Capital. “Divorce and child support issues are relevant for nearly half of the world’s families – and growing. SupportPay offers an essential tool for them to ease the financial conflict at hand. We are excited to be participating in this round of funding and partnering with SupportPay to provide a solution that impacts so many families.”
After a separation or divorce, parents who live apart may have a child support order or agreement – yet are left to figure out how to manage the process on their own, inevitably leading to conflict and tension. SupportPay helps to standardize the billing and payment process for child support as well as other shared expenses – such as medical, child care, education, and extracurricular activities – that aren’t usually addressed by court orders or state-run payment platforms. SupportPay is private, secure, and fully transparent – making the process of managing & paying child support and sharing other child-related expenses simple and less stressful.
SupportPay is available now for free as a web, Android and iOS application. SupportPay is offering the current version of its platform for free, for life, to any new or existing customers who register and use the product before June 30th, 2015. After the promotion period, SupportPay will be available in both free and premium subscription models.
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