Expands Construction Financial Automation Capabilities into Billings and Accounts Receivable
SANTA BARBARA, Calif., September 8, 2022 – Briq, the financial automation platform that enables construction companies to grow their business, today announced the acquisition of Swipez, an India-based fintech company that automates the billings and revenue collection processes for businesses.
With the acquisition of Swipez, Briq will further its ability to fully automate all the major financial workflows in construction – from planning to payment, and now to being paid.
“An ongoing challenge is the lack of certainty around cash flow in the construction industry, and we attribute that to a broken payment process,” said Bassem Hamdy, cofounder and CEO, Briq. “Bringing automation to the Billings and Accounts Receivable functions will drastically improve the ability for construction companies to accurately project cash flow.”
Briq’s mission is to help construction companies grow their business, and the company is working towards that by advancing the use of fintech in construction.
“Swipez was founded to provide businesses with an efficient way of managing their clients’ billings and a convenient and timely revenue collection process through automation,” said Shuhaid Lambe, cofounder, Swipez.
“We are thrilled to join Briq and combine our expertise in automation to bring more clarity and efficiency to the financial processes in construction,” added Vivek Iyer, cofounder, Swipez.
Briq’s platform supports the ability of construction companies to automate critical financial workflows in the planning and forecasting processes, such as corporate planning, labor and materials forecasting, projects forecasting, and revenue forecasting. The Briq platform also offers the ability for construction companies to automate their spend management through AP allocation, instant credit card reconciliation, and payments.
Briq is a financial automation platform that helps construction companies grow their business. Briq automates financial workflows by connecting the people, processes, and systems that contractors use to run their business. By empowering contractors to make better business decisions, hundreds of companies rely on Briq to manage their budget, forecast, and spend. Briq is a remote-first company with employees in Canada, India, and the United States. Learn more at briq.com.