Prolo secures £4.2m in seed funding to expand procurement and credit platform
Triple Point Ventures led the oversubscribed seed round to support growth in product development and go-to-market operations.
Prolo provides construction procurement and flexible credit for small contractors in the UK.
Prolo has secured £4.2m in seed funding to expand its construction procurement and credit platform. The oversubscribed round was led by Triple Point Ventures, with participation from several other backers including Anamcara Capital and Concrete VC.
The London startup combines artificial intelligence with human support to help small contractors access trade pricing and up to 90 days of credit. The fresh capital will be deployed toward product development, sales, and marketing as the firm grows its client base.
From the founder
"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,"
James Morris-Manuel
Founder and CEO at Prolo
Investor perspective
"Procurement remains one of the most manual and margin-sensitive parts of running a construction business, and Prolo has a huge opportunity to change that. By using AI to help firms automate procurement, find the right products at the best prices, and improve their margins, Prolo is solving a real and urgent problem for the industry,"
Sam Stone
Investor, Triple Point
Use of funds
- 01Accelerate go-to-market
- 02Invest in sales and marketing
- 03Continue product development
Investors
Sam Stone
Triple Point
Anamcara
Concrete
Foundation Capital
Haatch
Koro
Love Ventures
Portfolio Ventures