The funding was led by Headline, with notable participation from Motley Fool Ventures, Chartline Capital Partners, Silver Circle Ventures, and several existing investors of iink.
Established in 2017, the Florida-based startup plays a crucial role in connecting and facilitating the seamless flow of money and information among all stakeholders engaged in the payments lifecycle.
The Series A funding injection is earmarked to empower iink to strategically invest in integrations with mortgage servicing banks and insurance carriers. The ultimate goal is to establish an entirely digital and automated workflow, revolutionizing the landscape of multi-party property insurance claims.
This funding round not only underscores the confidence of investors in iink Payments but also positions the company to drive advancements in the efficiency and digitization of financial processes within the insurance industry.
The strategic partnerships and integrations envisioned by iink are poised to bring about a transformative shift in the way funds associated with multi-party property insurance claims are disbursed, promising increased efficiency and transparency across the ecosystem.
Tom McGrath, iink CEO and co-founder, commented, saying: “iink has seen great success to date tripling in size since our last round by innovating in an industry that has historically been underserved when it comes to technology. Our vision is not only to expedite payments but to also position ourselves as a fintech company that provides specialized financial capabilities to our customers by partnering with outside banks—a platform for property restoration professionals to operate and grow their business in a way that has never been supported before.”
King Goh, partner at Headline, said: “iink stands as a beacon of innovation in an industry ripe for transformation, bringing efficiency to a traditionally fragmented process for all stakeholders involved in property insurance claims.
He added: “We believe that their growth trajectory points to a future where recovery and rebuilding are not hindered by administrative delays, but facilitated through digital innovation.”
Author: Joanna England
