Rete+Pay, Inc., a Woodridge, IL-basedprovider of electronic payment solutions for insurers, medical providers and other vendors, received an investment of undisclosed amount.
Backers included Ticonderoga Capital and Asim Ashary. In conjunction with the funding, Craig Jones, Ticonderoga principal, and Paul Boemer, formerly Senior Vice President of FIS, joined Rete+Pay’s board of directors.
Led by CEO George Bregante, Rete+Pay provides healthcare and worker’s compensation industries with payment software solutions designed to reduce costs, streamline internal processes and assist in regulatory compliances.
The company, which serves over 50 customers across North America, offers a suite of integrated payment applications including utilizing access to the nation’s largest ACH/835 network, Virtual Payments and Claimant Cards.