MoneyTrack
Blockchain payment platform enable insurance companies to reduce claim management cost and improve customer experience (avoid advance cash, enable third party payment direct to partners network).
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 Valuation: €0.0 | round | |
| investor investor | €0.0 Valuation: €0.0 9.6x EV/Revenue -19.5x EV/EBITDA | round | |
* | €2.0m Valuation: €12.5m 11.0x EV/Revenue -14.3x EV/EBITDA | Series A | |
| Total Funding | 000k | ||
| EUR | 2018 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | - | 31 % | (13 %) | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (3776 %) | - | (49 %) | (77 %) | - |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (3391 %) | - | (46 %) | (88 %) | - |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article, Dealroom estimates
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MoneyTrack operates as a digital payment platform engineered to manage and trace directed payments for various sectors, primarily focusing on insurance and employee benefits. Founded in 2018 by Christophe Doré, the Paris-based company provides a solution for organizations like insurers, corporations, and public institutions to disburse funds to individuals with specific spending conditions. These beneficiaries can then use the funds within a predefined network of authenticated service providers, eliminating the need for upfront payments.
The company's technological backbone is a blockchain platform, utilizing the Tezos protocol, which facilitates secure, transparent, and traceable transactions through smart contracts. This system is designed to reduce administrative costs, digitize processes, and mitigate fraud risks for its clients. The business model generates revenue by charging platform fees to the financing organizations and affiliation commissions to the merchants and service providers who benefit from the directed business. Christophe Doré, the founder and CEO, brought experience from the payment solutions industry, having previously worked at companies like Edenred and Moneo Payment Solutions, where he was involved in launching a dematerialized meal voucher. In early 2024, Marie-Laure Saillard, a specialist in development and transformation with a background in tech, insurance, and health sectors, took over as CEO to steer the company's next growth phase.
MoneyTrack offers several tailored products, including "MoneyTrack Healthcare," which provides a third-party payment system for healthcare costs, and "MoneyTrack Public Benefits," for the rollout of government subsidies. The company has secured significant funding to fuel its expansion, raising a total of over €7.4 million through various rounds from investors such as Truffle Capital, AG2R LA MONDIALE, and the French government. A key milestone was the acquisition of Progexia in March 2021, which expanded its reach to 800,000 insured individuals. The company serves around fifteen insurance clients, including MGEN and SwissLife, and has established a network of thousands of healthcare practitioners across Europe.
Keywords: directed payment, blockchain payments, insurtech, fintech, secure transactions, smart contracts, third-party payment, employee benefits, healthcare payments, public subsidies, Christophe Doré, Tezos protocol, digital payment platform, fraud reduction, payment traceability, corporate payments, insurance claims, automated payments, conditional payments, Marie-Laure Saillard