Saible raises £2.9m from angel backers and Crowdcube to expand its construction payment platform.
The Birmingham fintech secures capital to scale its digital parallel payment account as Parliament moves to reform construction payment terms.
Birmingham-based fintech Saible has developed a digital parallel payment account designed to route construction funds simultaneously down the supply chain.
Birmingham fintech Saible has secured £2.9m in a funding round, consisting of £2.1m already raised and an £800k extension. The capital comes from angel investors, including Causeway Technologies founder Phil Brown, alongside a crowdfunding allocation on Crowdcube.
The startup plans to deploy the fresh capital to scale its platform, support ongoing public-sector pilots, and onboard additional live projects. Saible's technology uses a digital parallel payment account to distribute project funds directly to all approved suppliers simultaneously, bypassing the traditional sequential cascade through main contractors.
The investment arrives as Westminster considers tighter regulations, including the Commercial Payments Bill, which aims to cap payment terms and ban retention payments. Saible is currently testing its model in a public-sector pilot with the Environment Agency and BAM Nuttall.
From the founder
"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,"
Jarvey Moss
Co-founder and chief executive at Saible
Investor perspective
"Project Bank Accounts recognised the right problem, but they were never built to protect payments all the way down the supply chain. Saible is different because it gives clients and contractors a practical way to make sure money reaches the firms doing the work, not just the businesses at the top of the chain,"
Phil Brown
Founder and executive chair, Phil Brown
Use of funds
- 01Continue product development
- 02Scale operations