Established in 2018, MoneyTrack startup has developed the only third-party healthcare payment platform that allows you to track insured guarantees in real time and pay for healthcare costs from 1 euro. This new funding will allow it to structure and industrialize its development in order to accelerate its activities in the health insurance market in France and internationally.
MoneyTrack, the startup that revolutionized directed payments in healthcare
MoneyTrack has developed an innovative blockchain-based platform to digitize, secure and control payment flows between sponsor, partners and beneficiary. To do this, it relies in particular on “smart contracts” (or digital contracts) that enforce spending rules in a secure manner.
The startup provides complementary health insurance with a completely secure payment method that allows policyholders to avoid paying up front. Thus, the MoneyTrack mobile payment application improves the customer experience of insurers, drastically reduces the cost of managing city medical bills and the risk of fraud, while maintaining reimbursement control at a market price.
Consistent funding at the service of MoneyTrack’s growth in France
After several fundraisers totaling €5.4 million, MoneyTrack continued to grow to become a marketplace startup specializing in direct payments in the healthcare sector.
After many months of research and development, it is entering a new phase of accelerating and industrializing its growth with the goal of rolling out its MoneyTrack Health offering nationwide. To do this, it benefits from 2022 integration of its solution with major players in the health insurance sector.
The startup currently supports about fifteen insurance clients such as MGEN and has formed strategic partnerships with companies developing information systems or healthcare cost management mandates such as Viamedis, Assia, Tessi or Cleva (Inetum), representing the potential of more than 25 clients. million insurers.
MoneyTrack to conquer the international market
With this new round of funding, MoneyTrack intends to accelerate the rollout of its offering in France and abroad. Indeed, if the start-up today supports about fifteen insurance companies nationally, it wants to increase its activity in the international health insurance market (IPMI) with a network of more than 500 medical practitioners in Europe.
Thus, after launching early in the year in Spain and Portugal for policyholders, Swisslife Moneytrack continues to expand its acceptance network to support its customers in Italy, Germany, Benelux and the US.
Cost advancement, processing times for invoice refunds are areas for improvement identified in this fast growing market, accounting for more than 80% of incoming calls to insurer control centers.
Christophe Doré, founder and CEO of MoneyTrack
“The health insurance sector has been marked by significant digital transformation, as evidenced by the expectations of customers whose digital travel has accelerated due to the recent health crisis. Insurers face two main challenges: the need to improve the path provided by the launch of new digital services, while significantly reducing management costs, in order to remain competitive.
By placing our innovative payment solution at the heart of the relationship between the insurer, the insured and the healthcare professional, MoneyTrack addresses exactly these two points, capitalizing on the benefits of modern technologies such as smart contracts and mobile tools.
These last few months have allowed us to integrate MoneyTrack into the back offices of the marketplace and unleash the huge potential of policyholders both in France and abroad.
We are entering a phase of large-scale deployment, the recapitalization of which will allow for industrialization.”
MoneyTrack, founded in 2018, is an emerging specialist in the field of direct payments. MoneyTrack uses blockchain technology to digitize, secure, and control payment flows that have a wide range of applications: insurance reimbursements, consumer loans, targeted government subsidies, and more.
Thanks to its platform, developed in partnership with academic research (INRIA, Pôle Universitaire Leonard de Vinci), companies (in the field of insurance and banking), local governments or institutions, it will be possible to pay out money to individuals who notionally spend it within the network. verified partners.
The company has raised €7.3 million since inception and now has 25 employees.
MoneyTrack has been recognized by the Finance Innovation Competitiveness Cluster and selected by PwC to integrate the promotion of 10 start-ups under the Scale Insurance 2021 program.
Key indicators of MoneyTack:
• Created in 2018
• 7.4 million euros since inception
• 25 employees
• 15 insurance clients
• 1.5 million annual regular income