FinTech platform for barbers Squire Technologies collects $59m in funding

Squire Technologies, a FinTech platform designed for barbershops, has reportedly bagged $59m in its Series C round.

ICONIQ Capital led the round, which was split between $45m in equity and $15m in debt financing, according to a report from TechCrunch.

This fresh investment comes hot off the heels of its former round, which closed on $34m just six months ago, it said.

The new investment also shoots the FinTech’s valuation by nearly three-times. Squire was valued at $85m in June, but the Series C investment brings its valuation to $250m.

With the fresh equity, the company plans to expand into new markets, including Australia, the UK and Canada. Funds will also be used to hire more sales and marketing staff members, it said.

Squire offers an all-in-one solution for barbershops. Its platform can be used to manage bookings online, monitor pricing, access revenue analytics, access mobile payments and other contactless payment methods.

Its technology will also launch a one touch payout service that will enable customers to automatically pay commission on top of their haircut cost.

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