Integrated barbershop software system provider Squire Technologies has announced a partnership with embedded finance platform Bond Financial Technologies on a cash flow management solution.
Squire provides a software suite that includes CRM, point of sale, scheduling and payroll functionality for barbershops. SQUIRE said the offering addressed needs such as increasing clientele while reducing the amount of time spent in the back-office.
The new Squire Card offering integrates with its mobile app and offers financial tools for faster payments and expense tracking, as well as the ability to withdraw funds based on future bookings. The Squire Card can also be used by shop owners for store purchases and bill payments.
“The Squire Card transforms our ability to serve our community of barbers,” said Songe LaRon, CEO and Co-founder of Squire. “We can lower their costs, cut their fees, and save them time — plus give them rewards and drive loyalty for using our card.”
The company recently announced a $60mn Series D round was announced earlier this month and led by Tiger Global, alongside existing investors ICONIQ Capital, Charles River Ventures and Trinity Ventures. It brought lifetime funds raised by the company since its 2015 foundation to around $165mn.
“Fintech is the next natural step for Squire,” said Dave Salvant, President and Co-founder of Squire. “We already have deep insights into our customers and know they need more and better financial services, services that are tailored to them and their specific needs.”
Squire said it was partnering with Bond due to its white-glove product development and scalable architecture, allowing the card to be introduced within a few months.
“We are on the cusp of a future where financial products are seamless and integrated into the services people use every day,” said Roy Ng, CEO and Co-founder of Bond. “This future will benefit the consumer immensely, especially for those not well addressed by the current financial system. We will be able to reach corners of the population that were not well served by traditional financial services.”
