SquareDash, a pioneering payment advance platform dedicated to the property insurance restoration industry, has successfully secured a significant investment to fuel its growth.
With its innovative approach to managing billing services, SquareDash has become a key player in enabling roofing and restoration companies to streamline their operations and receive payments immediately upon completing work on approved property insurance claims.
The company announced it has raised over $20m in total financing, with the latest equity round being led by FINTOP Capital. This round of funding also saw participation from a diverse group of investors including Hivers and Strivers, The PenFed Foundation, i2BF Global, The Hustle Fund, The Council, and numerous angel investors.
Additionally, SquareDash has secured a $15m credit facility, which has the potential to expand to $25m, providing a robust foundation for future growth and expansion efforts.
Founded in 2022 by Matt Fruge, a U.S. Navy veteran with over a decade of experience in the roofing industry, SquareDash offers comprehensive solutions that not only include claim funding but also a subscription service for managing billing, payment, and collections.
This initiative aims to empower businesses, especially those within the $2m to $15m revenue range, to navigate the challenges associated with insurance claims and secure same-day payments for their services.
The company’s mission is to help roofing and restoration entrepreneurs overcome cash flow challenges and achieve business success through faster payments.
SquareDash CEO and Founder Matt Fruge stated, “As a former roofer myself, I know firsthand the cash flow challenges faced by roofing and restoration businesses.
“With this latest funding, we’ll be able to help even more of these entrepreneurs get paid faster for their hard work and grow successful businesses. I’m grateful for the support of FINTOP Capital, PenFed Foundation, and all our investors who share our mission.”
SquareDash’s approach to addressing market inefficiencies and enhancing cash flow control for restoration professionals has garnered support and recognition, including participation in The PenFed Foundation Veteran Entrepreneur Program Fall 2022 Cohort. This program supports veteran and military spouse entrepreneurs, underscoring SquareDash’s commitment to innovation and growth within the sector.
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