Finalsite Acquires RevTrak to Expand K-12 Payments Services
Finalsite, a platform for K-12 school engagement, has acquired RevTrak, a digital payments provider for schools. The acquisition aims to enhance Finalsite's capabilities in managing various school-related payments.
Glastonbury, Conn. – Finalsite, a provider of digital solutions for K-12 schools, announced its acquisition of RevTrak, a company specializing in digital payment processing for educational institutions. RevTrak serves over 13,000 schools nationwide.
The acquisition is expected to strengthen Finalsite's payment processing services, extending its offerings beyond tuition and billing to cover a wider range of school expenses, including meals, athletics, and event fees. RevTrak has been providing services to simplify financial transactions in schools for over three decades, facilitating a shift from traditional cash and check payments to digital methods.
Finalsite stated that the integration of RevTrak's technology is intended to create a more unified and convenient experience for families interacting with schools. By combining RevTrak's payment infrastructure with its existing engagement and communication tools, Finalsite aims to streamline administrative processes for school staff.
Jim Calabrese, CEO of Finalsite, commented that the acquisition supports the company's strategy to simplify interactions between families and schools. "Making those moments easier for families must also mean making them easier for school teams to deliver," Calabrese said. "RevTrak brings proven payments expertise to our broader strategy: a more connected school experience with less administrative complexity behind it."
Together, Finalsite and RevTrak will serve more than 50,000 schools globally. Finalsite, a portfolio company of Veritas Capital, indicated that the combined entity's resources will accelerate the development of new payment features and improve the payment experience for parents.