Phreesia Reports 45% Revenue Growth; Court Gives a Win to OCC Fintech Charter: News Roundup

PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.

Healthcare PF Phreesia reported revenue growth of 45% over last year for the fiscal first quarter of 2022, with payment processing revenue of more than $16 million. “We carried the momentum of the strong finish to our fiscal year 2021 into the first quarter of fiscal 2022. As we look ahead, we’re excited to continue providing health systems, hospitals and ambulatory providers with tools that will help them optimize their performance and improve the patient experience,” said Phreesia CEO Chaim Indig. From Phreesia.

An early investor initially discouraged the founder of PF Toast from building a POS system for restaurants because of the industry’s complicated needs. But Toast’s product would eventually change his mind, especially after the company built a payments platform and demonstrated the business’s potential, according to this interview with Toast’s founder and the VC he convinced. From TechCrunch.

The Office of the Comptroller of the Currency won the latest round in the ongoing state challenge to its special purpose bank charter. An appeals court overturned an earlier decision that sided with the New York Department of Financial Services. In that ruling, a district court said the charter violated the National Bank Act because it granted licenses to companies that don’t hold deposits. From Banking Dive.

Trulioo, a company that provides online identity verification, recently closed a series D funding round that netted $394 million. The round valued the company at $1.75 billion. The identity verification market was valued at $7.6 billion last year. From VentureBeat.

Construction industry fintech provider Briq has raised $30 million in a Series B funding round. The round was led by Tiger Global Management. It brings total fundraising for the company, which launched in January 2018, to $43 million. Among Briq’s offerings is a platform for managing invoices and payments that is geared specifically to the construction industry. From TechCrunch.

Industry News

Mastercard: Mastercard Launches New Start Path Programming Dedicated to Supporting Minority-Owned Startups, Furthering Efforts to Close the Racial Wealth and Opportunity Gap

Worldline: Worldline & Innovend Launch Pick-Go-Pay Solution to Bring Back Commerce in Remote Areas

Stripe: Glofox Deploys Stripe Capital to Offer Financing to Gyms and Accelerate Growth of the Fitness Industry

Worldline: Worldline and Toshiba Expand Partnership to Deliver Sophisticated Shopping Experience

RealPage: RealPage Partners with Airbnb to Launch Home Sharing Service

Innoviti: Innoviti’s GTV Crosses US$10 Bn, Net ARR Doubles to $18 Mn