The SupportPay offering is now closed and is no longer accepting investments.

SupportPay

Helping parents manage child support & share expenses

SupportPay

Helping parents manage child support & share expenses

Sacramento, CA
Software & Services
SupportPay eliminates child support conflict by providing both parents with a single platform to manage all of their child support, alimony and child expenses.

$12,667

raised
24
Investors
0
Days Left
$1.33
Price per Share
$13.1M
Valuation
Equity
Offering Type
$399.00
Min. Investment

$12,667

raised
24
Investors
0
Days Left
$1.33
Price per Share
$13.1M
Valuation
Equity
Offering Type
$399.00
Min. Investment
This offering ended on September 04, 2019 and is no longer accepting investments.

Reasons to Invest

Raised $7M+ in previous company funding from Tim Draper, Broadway Angels, Salesforce Ventures, TEC Ventures, T5 Capital and Angel Forum
CEO named Top 40 under 40, 2019 Most Admired Women Leaders in Business, and 20 Best Performing CEO’s to Watch
23,000+ customers with over 21% month to month growth

Child Support is Complicated

Raising children is hard enough. Raising children without both parents in the same home is difficult.


After a parent separates or divorces from the other parent they receive a child support order / agreement that they must figure out how to manage. You get a bill for everything else in life but no one gets a bill for child support. 


Managing child support & sharing expenses shouldn’t be so hard on kids & parents.


After the order, base support is the first step 


The base support payment is sent between parents or thru the state. The base support is only meant to cover basic living expenses and does not take 

into account additional expenses.



Additional Expenses Is Painful for Parents & Kids


Child support is not just a single monthly payment. Managing child support requires sharing a broad collection of shared expenses - such as education, medical, child care, extra-curricular activities, etc. It demands continual management, communication & negotiation of finances, creating a time-consuming & stressful process with unnecessary friction every step of the way.


More time spent managing support payments, expenses, receipts & documents is less time spent being a parent. And too often than not, the biggest ones to suffer are the children themselves - witnesses of the financial conflict & not getting the financial support they deserve from both of their parents

A Parent-Focused Solution

Reduced Conflict - Increased Payment - More Transparency


SupportPay provides both parents with a single platform to manage all of their child support, alimony & child expenses. It provides certified records to meet compliance & tax requirements while keeping each parents information safe & secure. SupportPay facilitates all communication regarding child support & expenses so parents never have to argue about finances again. Simplifying this process increases the chance a child will receive the financial support they deserve, from both parents


SupportPay offers a complete solution, saving time & money

  • Tracks all expenses, payments, receipts, & documents in one location
  • Enables online payments while tracking manual payments (cash, credit, check)
  • Provides online dispute management for easy resolution
  • Delivers proactive alerts, notifications & billing summaries
  • Keeps parents informed with certified records that can be used for modifications, court & taxes

Managing child support & sharing expenses shouldn't be so hard on kids & parents.

Female Founder, Already Beating the Odds

Founder & CEO Sheri Atwood married at 19, completed undergrad in 3 1/2 yrs, finished her MBA 10 days before her child was born while working full time, divorced at 25 & was the youngest Vice President at Symantec. Her divorce was amicable, but she had no idea how complex & stressful it would be to manage child support & share expenses with her ex. She knows first-hand that enforcing the child support agreement is difficult & time-consuming. She created this company to focus on what she is most passionate about - helping parents & children.

 

Sheri successfully raised over $7M for SupportPay including a $4M Series A round in December 2016 & the company was valued at $19M. Seven months later, Sheri was fired by her board & replaced by a man they brought in.  After three months, the product was broken, most of the employees had left & customers were lost. The board announced to the shareholders that they would be liquidating the company – despite Sheri’s plea to come back & get the company back on track.

 

In early 2018, Sheri formed a new company, took out a personal loan, used the rest of her savings & bought the SupportPay assets back. She now owns the assets, created with nearly $5M in investments in the former company, while gifting a small amount of equity back to the previous investors for their previous contribution & support.  

She is resilient, energetic, resourceful & lives by the motto "Don't talk about it, be about it!"


The team is made up of parents & children of divorce - ensuring they understand & can relate to the customers they serve. SupportPay is committed to hiring a diverse workforce, ensuring there is always a diverse team that spans gender, race & ages.

Sheri Atwood, Founder with 20+ Awards... and counting

CEO, Sheri Atwood has been awarded numerous prestigious awards and accolades since building SupportPay. Just in the last year, she has been honored by the following accolades:

  • 20 Best Performing CEO’s to Watch (2019) - Mirror Review 
  • 20 Inspiring Woman Leaders (2019) CIOLook
  • The Most Admired Women Leaders in Business (2019) – InsightSuccess
  • Winner - Financial Solutions Lab sponsored by JP Morgan Chase
  • Winner – Woman 2.0 Pitch Competition
  • Winner – Founder & Funders

Featured in 200+ Press Outlets

Already Proven, Ready to Grow

Today, SupportPay has 4x more paid customers & 5x more active users than ever before.


  • 23,000+ Customers
  • 1,000+ Paid Users
  • $55.1M in child support, expenses & alimony Managed 
  • $842 - Average Transaction Size
  • 21% month/month growth
  • $2,400 Average Lifetime Value
  • ~$21 CAC
  • $7M in investments in the previous company - used to build the acquired assets

What Customers Are Saying

What Family Law Professionals Are Saying

Child Support is a Global Issue

Even with a large & growing number of child support cases, up until now, there has been no way for parents to manage these issues directly with each other. This issue goes beyond the US. Worldwide, 298 million parents live apart & exchange $900 billion in child support/alimony every year. Fortunately, SupportPay has already begun to tap into this market & provide the support parents need in managing these finances.

Multiple Revenue Streams

SupportPay is currently available and can be accessed from the web, iOS  & Android devices


SupportPay currently makes revenue from parents. Future plans include creating revenue from family law professionals and child support agencies.



Direct To Parent

  • Monthly/Annual Subscriptions
  • Transaction Fees

Family Law

  • Advertising fees
  • Lead referrals to family law professionals from web traffic of ~100,000 per month

Agencies

  • Partnering with child support agencies
  • Offer SupportPay to parents who need help managing additional expenses

Multiple Avenues for Reaching Parents 

We currently market SupportPay directly to parents via search, paid ads, press, free public records of divorce data & visitors to the SupportPay child support community. The community provides a place where people can go to find resources & information about child support & currently has about 100k visitors per month. This strategy gets us directly in front of the eyes of parents in need of our product. 


The investment in SupportPay will enable us to expand our marketing & sales channel to family law professionals, partnering with them to help parents while providing these professionals the data they need to help parents with child support cases. We will also be exploring partnerships with county child support agencies - giving case workers a solution to recommend to parents who need to manage additional expenses.


Our final method for reaching new customers is through referrals. By easing the tension between parents dealing with child support, we will build a community who strive to give children the financial support they deserve & will refer those they know who are struggling with managing these finances. 

A Unique & Necessary Product

Before SupportPay, parents were forced to rely on manual solutions to handle child support. The company was built by parents for parents who wanted to make it easier for separated/divorced families to exchange money while reducing financial conflicts


SupportPay changes the process of managing child support by providing a simplified process that delivers true transparency, a single platform & a certified record for parents.


SupportPay's is focused on helping parents raise happy & healthy children by delivering technology which help children to get the financial support they deserve. 


A child support & payment platform built by parents for parents. Most of our employees are parents or children of divorce. We are dedicated to helping other parents to make their lives easier & believe children would be much happier if they didn't have to hear their parents arguing over money!


Supporting Financial Management at All Stages of Life

Many fin-tech companies & technologies today focus on individual & single home finances. At SupportPay, we aim to support families as they manage finances that span households. Today, we are helping families financially support their children. Using our child support system, based on federal standards, we want to help counties & states deploy citizen-friendly child support applications. 


Our long term vision is to become the "family financial management" platform. our goal is to help all families where finances span households. Using the same platform - we want to help children & family members financially support parents as their parents move into retirement & beyond.

Help Children Get The Financial Support They Deserve

SupportPay has delivered the only payment platform for parents to manage child support, alimony, & expenses directly with each other. We manage millions of dollars in payments while dramatically reducing the conflict children are exposed to & increased in the likelihood that children receive the financial assistance they deserve. Our product market fit has already been proven, the product is already available & fully functional (web & mobile), & we are making revenue & growing rapidly. 


Your investment will help us press the gas peddle on growth and will go directly to market growth.

Investment


$1.33 per share of Class B Common Stock│When you invest you are betting the company’s future value will exceed $13.1m.


PERKS*


Duration of campaign perks

$500+ (SupportPay Owners T-Shirt)

$1,000 (SupportPay Owners T-Shirt  + 25% discount on SupportPay Premium)

$2,500+ (SupportPay Owners T-Shirt  + 1 year free SupportPay Premium service + 5% bonus shares)

$5,000+ (SupportPay Owners T-Shirt + Lifetime membership for SupportPay Premium + 10% bonus shares)

$20,000+ (SupportPay Owners T-Shirt  + Lifetime membership for SupportPay Premium + Founders Dinner + 15% bonus shares)


Early Bird Discounts

First 10 days of the campaign - 10% bonus shares

Next 30 days of the campaign - 5% bonus shares


*All perks occur after the offering is completed.

We have Answers

Isn’t all child support managed by the state?

Contrary to what most people believe only ~30% of child support cases are handled by the state. Even in these cases, the state only manages base support and no state offers a solution to help parents manage additional child support expenses such as medical, education or child care.

Is SupportPay available today?

Yes! SupportPay is available for the web, iOS and Android devices. If you would like to try SupportPay out for yourself by playing with the product you can request access to the SupportPay Playground which will give you account information that you can use to acces the web or mobile applications without having to create your own account.

Do both parents have to pay to use SupportPay?

No. We didn't want who paid to be another argument point. Therefore, we offer a free and premium version of the product. Each parent chooses to pay individually and if one parent chooses not to pay the other parent is not impacted. You can see more about the pricing an features on our Pricing Page.

Do you have access to other frequently asked questions

Yes. You can find our frequently asked questions on our SupportPay FAQ Page. You are also welcome to ask any and all questions you have in the "Comment" section of our campaign page below!

In the Press

Simple Tool is Helping Divorced Parents Not Make A Nightmare of Child Support
December 14, 2015

SupportPay works by eliminating the distrust and suspicion involved in child care costs and has already signed up 33,000 divorced couples.

Why This Woman Created an App to Finally Get Child Support From Her Ex
July 20, 2018

How much would you pay to never talk to your ex again? If you’re like many parents dealing with child support, your answer would probably be “a lot.” For Sheri Atwood, it certainly was. She got so sick of chasing her ex to collect child support that, at one point, she simply gave up.

5 Apps That Promise to Make Divorce Easier
June 26, 2015

Atwood understands the need for easier and better documented support payments from first-hand experience.

3 Payment Platforms for Parents
May 10, 2017

These startups aim to minimize the pain of collecting child support and figuring out nanny taxes.

The App That Helps Divorced Parents Fight About Money
February 17, 2016

SupportPay wants to be part of your life, even if your ex doesn't.

Expense apps help divorced parents avoid anger
February 5, 2015

Most divorce decrees do not get down to the nitty gritty of how much is appropriate to spend on kids' soccer gear - and that can be a recipe for anger and resentment down the road even for the happiest of split couples.

Expense apps help divorced parents avoid anger
February 3, 2015

NEW YORK (Reuters) - Most divorce decrees do not get down to the nitty gritty of how much is appropriate to spend on kids’ soccer gear - and that can be a recipe for anger and resentment down the road even for the happiest of split couples.

Software for Sorting Out Child Support
November 26, 2013

Getting divorced, particularly when children are involved, can be a hard and messy business, rife with mediators, lawyers and courts. It’s little remarked how hard the realities of the situation can be afterward, when people are on their own.

The latest and greatest in personal finance apps
September 15, 2018

Struggling to keep track of all your bills? This app collects them in one place, then monitors and pays them using your linked bank account, debit card, or credit card. Unbill also helps you split expenses with others, like the Netflix account you share with your roommate.

Co.Labs
July 30, 2014

This story contains interviews with Sheri Atwood, founder of SupportPay, and two SupportPay users.

SupportPay Makes Divorce A Little Easier
December 13, 2016

Mobile payments platforms have seemingly attracted every major financial service and tech firm that can find a way to put the word “Pay” in its name. Virtual reality has captured hearts and minds in retail, social media and, of course, gaming — as this story is going to press, the entire world is wa

Newly Divorced Parend? Why It's Worth Sweating the Small Stuff
March 9, 2016

You’ve weathered divorce season, and you’re readjusting to a single life completely different than you knew it before. Instead of the carefree lifestyle you remember when your only responsibilities were to yourself, you’ve now got little people to worry about, an ex you can’t write completely out of

Offering Summary


Company

:

Smart Family Tech Inc.

Corporate Address

:

2443 Fair Oaks Blvd #42, Sacramento, CA 95825

Offering Minimum

:

$9,998.94

Offering Maximum

:

$106,999.83

Minimum Investment Amount

(per investor)

:

$399.00











Terms


Offering Type

:

Equity

Security Name

:

Class B Common Stock

Minimum Number of Shares Offered

:

7,518

Maximum Number of Shares Offered*

:

80,451

Price per Share

:

$1.33

Pre-Money Valuation

:

$13,090,224.42










*Maximum subject to adjustment for bonus shares. See Bonus info below


Perks*

Duration of campaign perks

$500+ (SupportPay Owners T-Shirt)

$1,000 (SupportPay Owners T-Shirt + 25% discount on SupportPay Premium)

$2,500+ (SupportPay Owners T-Shirt + 1 year free SupportPay Premium service + 5% bonus shares)

$5,000+ (SupportPay Owners T-Shirt + Lifetime membership for SupportPay Premium + 10% bonus shares)

$20,000+ (SupportPay Owners T-Shirt + Lifetime membership for SupportPay Premium + Founders Dinner + 15% bonus shares)


Early Bird Discounts

First 10 days of the campaign - 10% bonus shares

Next 30 days of the campaign - 5% bonus shares


*All perks occur after the offering is completed. If you are eligible for multiple bonus share tiers, you will receive the highest bonus available (not combined).


The 10% Bonus for StartEngine Shareholders

Smart Family Tech, Inc. will offer 10% additional bonus shares for all investments that are committed by StartEngine Crowdfunding Inc. shareholders who invested over $1,000 in StartEngine's own offerings.

StartEngine shareholders who invested $1,000 or more in any StartEngine offering will receive a 10% bonus on this offering. This means you will receive a bonus for any shares you purchase. For example, if you buy 100 shares of Class B Common Stock at $1.33 / share, you will receive 110 Class B Common Stock shares, meaning you'll own 110 shares for $133. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% bonus is only valid for one year from the time StartEngine Crowdfunding Inc. investors received their countersigned StartEngine Crowdfunding Inc. subscription agreement.


Irregular Use of Proceeds

The Company will not incur any irregular use of proceeds.

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Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

SupportPay is Entreprenuership World Cup Regional Finalist

about 2 months ago

I'm excited to announce that SupportPay is a regional finalist in the Entrepreneurship World Cup.  Thousands of companies entered and only 10 were accepted into each regional final. We are competing for over $5M in prizes. https://www.gsvlabs.com/entrepreneurshipworldcup

20 Investors - THANK YOU!

3 months ago

We just hit 20 investors. Thank you to all of those who believe in our mission and are supporting a company whose only goal is to help parent & children get the financial support they deserve!

15 Investors have backed SupportPay!

3 months ago

We just hit our 15th investor and are on our way to reaching our minimum goal! Please help spread the word so we can help more children get the financial support they deserve!

10 New Investors & $5,000 Raised

3 months ago

I'm happy to announce that in a few short days we already have 10 investors & have raised almost $5,500. Thank you to our early investors & believers!

Show More Updates End of Updates

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