iink Payments is a digital payments network that facilitates the endorsement, deposit, and disbursement of multi-party property damage insurance claim checks, streamlining the process for restoration businesses. By managing interactions with mortgage companies, iink reduces delays in fund access, enabling faster restoration and minimizing property damage during claims processing.
Funding
$24.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Property damage insurance claim checks often require endorsement from multiple parties, including mortgage companies, which can significantly delay restoration projects. This delay can exacerbate property damage and create financial strain for both property owners and restoration contractors.
Solution
iink Payments streamlines the multi-party claim check process by facilitating digital endorsement, deposit, and disbursement of funds. The platform manages interactions with mortgage companies, reducing delays in accessing funds and enabling faster restoration. iink offers solutions for situations where the mortgage company is not a payee or has already endorsed the check, as well as handling the entire mortgage company interaction. This accelerates the payment process, allowing restoration work to begin sooner and minimizing further property damage.
Target Audience
iink Payments primarily targets property restoration contractors and property owners dealing with insurance claim checks that require mortgage company endorsement.
Features
- Digital endorsement and deposit of multi-party claim checks via mobile device
- Automated mortgage company interaction for claim check fund release
- Claim check processing even when a mortgage company is not a payee
- Integration with Momnt Financing to provide financing options for property owners
- Remote work capabilities for endorsing and depositing checks
- Expedited fund disbursement, enabling contractors to receive funds in as little as 1-2 business days