MoneyTrack is revolutionizing the healthcare sector with its blockchain-based directed payment platform. This innovative start-up simplifies the reimbursement process for care not covered by the Carte Vitale, offering a practical solution for patients and healthcare professionals alike. Let’s find out how MoneyTrack is transforming the third-party payment landscape and what its growth prospects are.
An innovative solution for third-party payment in the healthcare sector
MoneyTrack is positioning itself as a major player in the field of directed payment for healthcare. Founded in 2018, this innovative platform leverages blockchain technology to facilitate transactions between patients, practitioners and insurers. Its main objective? Eliminate the need for patients to pay in advance for consultations not covered by the Vitale card.
MoneyTrack works via an intuitive mobile application. When a patient visits a partner healthcare professional, he or she simply scans a QR code to trigger direct payment. This ease of use enables :
- Reduce financial stress for patients
- Speed up the reimbursement process
- Improve administrative management for practitioners
The start-up has won over many players in the sector. It now works with some fifteen mutual and insurance companies, including well-known names such as MGEN and Swisslife. This broad coverage represents a potential 25 million beneficiaries, testifying to the appeal and relevance of MoneyTrack’s solution.
Growth and financing: MoneyTrack’s promising track record
Since its creation, MoneyTrack has enjoyed rapid, sustained growth. Investor confidence has been reflected in several successive rounds of financing, culminating in an impressive total of 7.4 million euros. The recent injection of 2 million euros, provided by renowned players such as Truffle Capital, AG2R La Mondiale and Accurafy, testifies to the solidity of the company’s business model.
This financing has enabled MoneyTrack to :
- Develop and perfect its blockchain technology
- Expand its network of healthcare professional partners
- Invest in marketing and communications to raise its profile
- Recruit talent to strengthen its team
MoneyTrack’s financial performance is also on track. The company posts annual recurring revenues of 1.5 million euros, demonstrating the viability of its business model and its long-term growth potential.
| Indicator | Value |
|---|---|
| Funds raised | 7.4 million |
| Annual recurring revenue | 1.5 million |
| Potential beneficiaries | 25 million |
International expansion and diversification of services
Building on its success on the French market, MoneyTrack has embarked on a phase of international expansion. The start-up has already established a foothold in Spain and Portugal, and plans to set up operations in Italy, Germany, Benelux and the UK in the near future. This internationalization strategy aims to capitalize on the expatriate market, estimated at 3 million French people spending an average of €1,500 a year on healthcare abroad.
MoneyTrack’s network is expanding rapidly:
- 1,000 partnerosteopaths in France
- 500 affiliatedhealthcare professionals in Europe
This geographical growth is accompanied by a diversification of services. MoneyTrack plans to apply its expertise in directed payment to other areas, such as subsidies for the purchase of electric bicycles. This approach demonstrates the versatility of the technology developed by the company, and opens up new prospects for growth.
Optimized management for insurers and patients
One of MoneyTrack’s major assets is its ability to significantly reduce management costs for insurers. Thanks to its automated system, the cost of processing an invoice drops from €5-6 to just €2. This financial optimization represents a powerful argument for convincing new partners in the insurance sector.
For patients, the benefits are just as tangible:
- Elimination of the stress associated with advancing medical expenses
- Simplified administrative procedures
- Easier access to “alternative medicine” treatments
The recent appointment of Marie-Laure Saillard as CEO in September 2023, succeeding Christophe Doré, and the arrival of Ruben Obadia as Chief Technology Officer in January 2024, testify to MoneyTrack’s determination to strengthen its leadership and technical expertise to support its growth.
All in all, MoneyTrack is establishing itself as a key player in the field of directed payment for healthcare. Its blockchain technology, international expansion and ability to optimize costs for insurers while simplifying life for patients, position the company on a promising trajectory. With a rapidly expanding market and new opportunities for diversification, MoneyTrack looks well equipped to continue its growth and revolutionize the healthcare and directed payment sector in the long term.
