SquareDash raises over $20 million

SquareDash, a payment advance platform for the property insurance restoration industry, has raised over $20 million in total financing to accelerate growth.

The latest equity round, led by FINTOP Capital, builds on SquareDash’s previous equity raise in mid-2023 with participation from Hivers and Strivers, The PenFed Foundation, i2BF Global, The Hustle Fund, The Council and other angel investors. The company also secured a $15 million credit facility that can expand to $25 million. The funds will be used to expand the company’s payment advance and subscription services, grow the team, and invest in sales and marketing.

Founded in 2022 by U.S. Navy veteran Matt Fruge after running a roofing company for over 10 years, SquareDash offers both claim funding and a subscription service to manage the billing, payment, and collections process. The company targets roofers and restorationists, especially those in the $2 million to $15 million revenue range, helping them deal with the insurance claim process, as well as getting paid the same day they finish work.

“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.” – CEO and Founder of SquareDash Matt Fruge.