Briq Announces Acquisition of Swipez
Summary
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. “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. The Briq platform also offers the ability for construction companies to automate their spend management through AP allocation, instant credit card reconciliation, and payments. By empowering contractors to make better business decisions, hundreds of companies rely on Briq to manage their budget, forecast, and spend.
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