The Birmingham fintech secures capital to scale its digital parallel payment account as Parliament moves to reform construction payment terms.
"Late payment in construction goes beyond the balance sheet. It creates pressure that runs through businesses, workers and families. When firms are waiting months beyond agreed terms, people are left worrying about whether they can pay staff, suppliers, and themselves,"
Triple Point Ventures led the oversubscribed seed round to support growth in product development and go-to-market operations.
"For decades, SME contractors have been penalised by a lack of price transparency and inefficient ordering, often paying a premium simply because they lack the time and purchasing power of the Tier-1 giants,"
The funding round was led by Guinness Ventures with backing from Beringea, SFC Capital, and angel investors, and will be used for sales, marketing, and team expansion.
"It’s not great being the person doing the onboarding, but equally not great being the person going through the onboarding"
The financing round was led by Infinity Ventures with participation from Sella Direct Ventures, Frontline Ventures, and Y Combinator.
"The competency of a financial institution is not building financial crime technology. It’s such a complex, T-shaped domain. That’s why I decided to start the company myself,"