CLASSWALLET has closed a $1.5 million seed round, bringing its total funding to roughly $4 million. Idea Bulb Ventures led the round. Techstar Ventures, William Guttman and other angel investors also participated. Founded in Miami in 2014, the company makes a system for administrators to distribute funding, for teachers to manage spending and a marketplace in which to spend those funds managed by Classwallet. In an email to EdSurge, he company claims that it has expanded its customer based by 400 percent in 2015 and to be on track to do the same in 2016.
