Mission Driven Finance invested in CareCar to accelerate their patient-centered access to healthcare for vulnerable seniors and increase their quality jobs during a period of rapid growth with expanding health plan contracts.
What they do
CareCar is a health & technology company that enables non-emergency medical transportation services through its managed marketplace platform. The company partners with managed care organizations to manage the transportation benefits for Medicare & Medicaid beneficiaries. They are based in Newport Beach and provide healthcare transportation services to vulnerable populations in California, North Carolina, and Florida. Patients request trips via phone, online, or a mobile app, and CareCar’s technology platform automatically assigns qualified drivers based on distance, training, and medical needs.
What they stand for
CareCar differs from other medical transportation providers with their thoughtful approach to patient care and driver workforce training. They provide reliability for patients who are disconnected from access to healthcare due to disability, lack of family and personal networks, or living in rural areas.
CareCar also prioritizes providing quality jobs for drivers. Their drivers earn significantly more than with other rideshare companies and have more stable income and predictability as they earn a minimum hourly wage and work reliable shifts.
Why we invested
After signing a new contract with a major national health insurance provider which would double current operations, CareCar needed funding to increase driver workforce and invest in company infrastructure. Mission Driven Finance provided CareCar with the capital they needed to continue to grow.
Our $500,000 loan allows CareCar to recruit and train more drivers, further develop their tech platform, and expand their service to vulnerable communities in San Diego and Imperial County.
Learn more about CareCar on their website.
- Impact SegmentAccess to Healthcare, Quality Job Creation & Building Local Markets
- Impact VehicleAdvance fund
- Investment Details$500,000 loan made in February 2019
- Impact GeographyCalifornia, North Carolina, Florida
- LeadershipJoshua Itano, Founder & CEO, Jenn Gallinger, Co-Founder & COO
- Year Founded2017