Digital wallet platform ClassWallet announces $95 million funding led by Guidepost Growth Equity

ClassWallet, the Florida-headquartered digital wallet-based purchasing and reimbursement platform for public funds, announced Tuesday it closed its first institutional growth capital funding round of $95 million led by Guidepost Growth Equity, with participation from Education Growth Partners (EGP) and Lazard Family Office Partners.Founded in 2014, ClassWallet is the purchasing and reimbursement platform for public funds. The company’s patented digital wallet technology ensures that public funds reach the correct recipients and are used for the intended purpose.ClassWallet claimed its platform is used by state government agencies and school districts across 32 states, helping those clients realize the full potential of over $2.7 billion in public funds.“ClassWallet has fundamentally transformed the way state agencies and school districts disburse funds,” said Gene Nogi, Guidepost General Partner. “By adopting ClassWallet, state agencies no longer have to struggle with the cumbersome, manual processes that have plagued public fund distribution. We are thrilled to partner with ClassWallet as they expand upon their market leading position.”