iink's Ascension: A $12.0MM Series A Propels It Towards a Leading FinTech Platform in Property Insurance Restoration

The Series A round witnessed the enthusiastic involvement of notable investors, including Motley Fool Ventures, Chartline Capital Partners, Silver Circle Ventures, alongside several of iink's longstanding existing investors. This infusion of financial resources will empower iink to embark on strategic collaborations and integrations with mortgage servicing banks and insurance providers, thereby ushering in a paradigm shift towards a fully digital and automated workflow. This progressive development will dramatically streamline the process of property restoration, facilitating a more seamless and expedited procedure.

In the realm of insurance claims, a staggering amount, worth hundreds of billions of dollars, remains entangled in protracted delays, stretching across weeks, and sometimes even months. This frustrating impasse is largely attributed to the outdated and fragmented paper-driven mechanism known as "loss draft." iink has emerged as a beacon of transformation in this arena, adeptly positioning itself as a vital conduit for insurers, financial institutions, contractors, and property owners, fostering efficient communication and ensuring the uninterrupted flow of the restoration process. Nonetheless, it's worth noting that iink harbors even loftier ambitions on the horizon.

Tom McGrath iink  CEO & Co Founder said “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,” He added “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.”

The adverse impact of delayed payments to struggling families, local business owners, and those providing restoration services after a natural disaster is a problem that if solved benefits all stakeholders within its ecosystem—carriers and banks included.

"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. 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,” said King Goh, Partner at Headline.

About iink

iink serves to reinstate insured properties to their pre-loss state by interconnecting and expediting the exchange of funds and information among all parties engaged in the payment process lifecycle.