New York based barbershop management and point of sale system software platform raised $45m in Series C funding led by Iconiq Capital.
The coronavirus has threatened the livelihoods of small and medium-sized business owners, making it harder for them to secure loans or financing to undergo tricky times. Salvant says that Squire took on $15 million in debt financing to create a banking-as-a-service feature for these business owners. “This market is underserved by traditional financial institutions,” Salvant said. “And we think there’s opportunities to help these owners with financial tools.”