Clad is a financial platform that provides selected private schools with guaranteed, on-time tuition payments regardless of family payment status. The platform ensures predictable cash flow for institutions by assuming the risk of late or defaulted payments from families. Additionally, Clad offers parents a simple, fee-free payment gateway backed by secure banking partners.
Funding
Funding not disclosed
Founders
Product
Problem
Private schools often face unpredictable cash flow due to late or missed tuition payments, diverting resources from educational initiatives. Families, on the other hand, can incur significant transaction fees for payment processing.
Solution
Clad provides a financial platform that guarantees tuition payments for private schools, ensuring consistent and predictable revenue streams. The platform offers schools access to working capital and complimentary software solutions, enabling them to focus on strategic growth and educational development. By assuming the financial risk associated with non-payment, Clad empowers schools to offer enhanced financial flexibility to families. This includes providing parents with a seamless payment experience that eliminates transaction fees for methods like credit cards and ACH.
Target Audience
Clad serves private schools from preschool through 12th grade that seek to stabilize their cash flow and improve the payment experience for families.
Features
- Guaranteed tuition payment processing for private schools, ensuring on-time and full revenue collection.
- Access to working capital for schools to support operational needs and strategic investments.
- Provision of free school management software to participating institutions.
- Elimination of transaction fees for families on tuition and fee payments, including credit card and ACH.
- Financial risk mitigation for schools by assuming the burden of student non-payment.
- Secure payment gateway with high data security standards for families.
- A selection process for schools based on financial review and data analysis.