Digital payments network iink Payments has closed its seed round on $2.8m, which was led by Motivate Venture Capital.
Other contributions to the round came from Green Egg Ventures, Carolina Fintech Ventures, IU Ventures and various industry partners.
With the capital, the InsurTech company should grow its existing network and accelerate the development of integrations with carriers and banking partners.
iink helps people get paid up to 60-times faster for insurance restoration work. The platform streamlines the property claim payment for property owners, restoration professionals, insurance and mortgage companies.
Its platform can digitise the check and endorse remotely, let contractors access funds before a mortgage company endorses the check, coordinate and track where insurance claims funds are, and more.
iink CEO and co-founder Tom McGrath said, “When the insurance claim has been paid there is no reason for the unnecessary delays associated with multi-party claim checks, snail-mail, and lienholder approvers. iink solves that problem.”
As part of the deal, former Marqueta CTO Tony Ford has joined the iink Payments board of directors.
Copyright © 2022 FinTech Global