Silicon Valley Bank (SVB), a division of First Citizens Bank, provided $35 million in debt financing to Squire Technologies, a full-scale management and point of sale system that aims to help barbershop owners scale their businesses and increase clientele while also reducing the amount of time spent in back-office operations. Backed by new financing from SVB’s enterprise software group, Squire aims to drive ongoing innovation and expand its platform.
“Partnering with Silicon Valley Bank allows us to build on our strong foundation and accelerate our mission of delivering exceptional tools tailored to the needs of our clients,” Dave Salvant, co-founder and president of Squire Technologies, said.
“With its innovative platform, Squire provides tools tailored to the specific needs of barbershops allowing business owners to effectively manage their clientele and payment operations while successfully running their business,” Simon Keyes, co-head of SVB’s enterprise software group in New York, said. “SVB is pleased to continue our long-standing relationship with Squire by expanding our initial credit facility and providing financial solutions to help them continue to grow and scale their business.”
