Child security is bigger issue all over the world. With increasing rate of separation, this concern is also rising. It is difficult for parents to manage their professional as well as personal lives leading its impact on child. In the US, there are 55 million parents that live apart. Over, 39 million exchange over $200B/yr in child expenses & child support/alimony. Child support is one of the rising concerns faced globally. There are over 298M parents who exchange $900B/yr.
After a parent has an order, there has been no standard way for parents to manage the conflict-ridden process. As parents, they have to go through lot of emotional and financial trauma. It is important that child support isn’t ignored. Incepted in 1918, SupportPay is the first-ever automated child support payment platform. It is composed to transform the complex, time-consuming and stressful process that impacts over millions of parents worldwide.
Making Families lives Easier
Nearly 300 million parents exchange more than $900 billion in child support & child expenses worldwide. With SupportPay, today’s modern families can spend less time managing and arguing about child support, expenses and alimony and more time focused on raising happy, healthy children. The company started with an aim to make family life easier by changing the way families manage money across households – from a conflict-ridden, time-consuming & stressful event to a collaborative process between family members.
Since child support is not just a single monthly payment but also a broad collection of shared expenses (medical, education, childcare, etc.) parents must continually manage, communicate & negotiate over these expenses. This process is complex, time-consuming & stressful. SupportPay wants to make single, divorced & blended families lives easier by delivering innovative applications that will save parents time, money and headaches.
Former Silicon Valley Executive Risking It All
Presently, there is a noticeable difference in the tech industry, women are not getting the respect they deserve. VC funding for a female startup is down to 2.2 per from an estimated 6 percent. Sheri Atwood, Founder and CEO of the SupportPay pledge to change this situation by her hard work and determination. As a single parent, Sheri faced numerous challenges while managing chlid support for her daughter. So, the idea of SupportPay came to her mind and in 2011, the the company officially started operating. Over the course of next five years, with all the fortitude, Sheri and team managed to raise over $7M in funding, built a team of 25, and grew its customer base to more than 40,000 people.
In 2017, just after being fired from her company, Sheri found that SupportPay was being liquidated. She considers herself lucky as she was wise enough to learn from her “first” start-up and apply them to her second, while still focused on what she is most passionate about, helping parents and children. Determined to save the company, in early 2018, she formed a new company: Smart Family Tech, Inc. Since then, she has been rebuilding SupportPay and today, the company is performing better than earlier.
Delivering A Much-Needed Solution
SupportPay understands the parental journey and the hardship they go through. It is not easy to keep track of everything. The company aims to reduce the stress of the parents and allow them to enjoy parenting. With constant changes in the market and technology, SupportPay acts nimbly accepting all the changes. The company seeks to use technology to automate anything that is done manually while hiring a team of people that are passionate about the company’s mission and strive everyday to meet the customer’s needs in the most resourceful way possible.
Here are few features offered by SupportPay making it one of its kind.
- Simple and streamlined: It is hard raising a child. SupportPay makes everything simple and streamlined. It helps the parents to see where the money is going and who receive the payment demonstrating all the expenses.
- Accessed at any time: SupportPay keeps child support payment history and detailed child support records that can be accessed at any time.
- Eliminates the conflict: Based on patent-pending technology and processes, it provides the financial mediation you need to eliminate the conflict in your parental relationship.
- Meeting all the financial needs: With SupportPay you longer have to pay expensive legal fees or use third-party services to exchange payment. It assures that the child is meeting all the financial needs.
- Both parents not needed: The system can be used by a single parent to track activities, without requiring other party to participate.
- Free to use: SupportPay allows its basic functionality free to use including tracking expenses, making payment and storing documents.
An Inspiration To Others
SupportPay strives for a huge success, delivering a much-needed solution to help the millions of parents and children who have to deal with the complexity of managing child support and sharing expenses. More importantly, despite all Sheri has been through, she hopes to be an inspiration to other women and young girls out there. She was able to continue to persevere and overcome despite the incredible odds against her. In the future, she would love to create or be part of an investment firm that is focused and dedicated to funding woman entrepreneurs.
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