SquareDash, an innovative payment advance platform tailored to the property insurance restoration industry, has recently closed a substantial investment round to propel its expansion.
Innovatively managing billing services, SquareDash emerges as a pivotal facilitator for roofing and restoration firms, enabling them to streamline operations and promptly receive payments upon completing work on approved property insurance claims.
The company has announced securing over $20 million in total financing, with FINTOP Capital leading the latest equity round. Noteworthy participants in this funding round include Hivers and Strivers, The PenFed Foundation, i2BF Global, The Hustle Fund, The Council, along with various angel investors.
Furthermore, SquareDash has finalized a $15 million credit facility, with potential expansion up to $25 million, fortifying its foundation for future growth endeavors.
Established in 2022 by Matt Fruge, a seasoned U.S. Navy veteran with extensive roofing industry experience, SquareDash offers holistic solutions encompassing claim funding and a subscription service for managing billing, payment, and collections.
This initiative aims to empower businesses, particularly those with revenues ranging from $2 million to $15 million, in navigating insurance claim challenges and securing same-day payments.
SquareDash’s mission is to assist roofing and restoration entrepreneurs in overcoming cash flow obstacles and attaining business prosperity through expedited payments.
Expressing gratitude for the support received, SquareDash CEO and Founder Matt Fruge commented, “As a former roofer myself, I understand firsthand the cash flow challenges confronted by roofing and restoration enterprises. With this latest funding, we aim to assist even more entrepreneurs in receiving prompt payment for their hard work and fostering successful businesses.”
SquareDash’s strategy to address market inefficiencies and improve cash flow control for restoration professionals has earned recognition, including participation in The PenFed Foundation Veteran Entrepreneur Program Fall 2022 Cohort, underscoring its commitment to innovation and sectoral growth.
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By Proptechbuzz
By Ravi Kumar
