Captain emerges from stealth, raises $104 million

Captain , a fintech company helping homeowners rebuild “six times faster” after natural disasters by paying general contractors upfront, emerged from stealth with $104 million in total financing. The company secured $100 million in debt financing from CoVenture and raised a $4 million seed round backed by NFX, GGV Capital, and Red Swan.

Captain helps homeowners get repairs done faster by advancing money to their contractors to pay for materials, labor, and fees associated with the project. In doing so, the company claims that homeowners and contractors do not need to work with or wait for insurance companies to process and approve claims before beginning work. In addition, homeowners can find contractors already vetted and approved by Captain while ensuring that the cost to homeowners won’t exceed their deductible.

Since launching, Captain has deployed $5 million in under 30 days for the nation’s most storm-damaged areas and partnered with 50 contractors throughout the U.S.

Captain was founded by Demetrius Gray who is also the founder of WeatherCheck, which helps homeowners find hail damage.

“Growing up in Kentucky, I saw firsthand the devastation natural disasters such as hail storms and tornadoes brought to surrounding communities, and it’s the reason I created Captain. As the largest and only pool of capital in the U.S. to buy insurance claims, we’re on a mission to get families back into their homes faster by directing the necessary funds to the relevant groups – up to six times faster than before.” – Captain CEO and founder Demetrius Gray.

“As natural disasters increase in both intensity and frequency due to climate change, homeowners impacted by storms need solutions that help them return to their homes as fast as possible. Captain’s breakthrough solution benefits policyholders, contractors, and insurers, and we’re energized to support their mission.” – Pete Flint, General Partner of NFX.