Gunderson Dettmer represented client Squire, a startup that sells software to barbershops, in its $60 million Series C financing led by Iconiq Capital. The raise is $45 million in equity capital and $15 million in debt financing.

Co-founder of Squire Dave Salvant said that Squire took on $15 million in debt financing to create a banking-as-a-service feature for small and medium-sized business owners unable to secure loans or financing due to coronavirus. In the announcement of the transaction Salvant said, “This market is underserved by traditional financial institutions and we think there’s opportunities to help these owners with financial tools.”

The Gunderson deal team was led by Randall Clark and included Saarah Woodby, Reon Cloete, Irina Finkel, Janice Lee, Khadijah Owens and Courtney Paterson.