Constrafor, a New York-based provider of a SaaS construction procurement platform with embedded financing, raised $100M+ in Seed funding.
The round was led by Fintech Collective with participation from Village Global, Clocktower Technology Ventures, Commerce Venture, Ramp, Uber, and Paxos. The company also received a credit facility from CoVenture.
The company intends to use the funds to build out new functionalities and expand its subcontractor invoice finance offering, the Early Pay Program.
Company: Constrafor, Inc.
Raised: $100.0M+
Round: Unknown
Funding Month: June 2022
Lead Investors: Fintech Collective
Additional Investors: Village Global, Clocktower Technology Ventures, Commerce Venture, Ramp, Uber, and Paxos
Company Website: https://www.constrafor.com/landing/
Software Category: SaaS Construction Procurement Platform
About the Company: Construction is a SaaS and fintech solutions purpose-built for General Contractors and Specialty Contractors. Increase productivity and improve cost-efficiency through automating your essential back-office tasks and financial transactions. Constrafor is setting new standards of productivity and cost-efficiency for the way GCs and subcontractors manage essential back-office tasks and financial transactions. For GENERAL CONTRACTORS, Constrafor’s robust cloud platform streamlines and standardizes subcontractor procurement & administration, including contracts, COIs, invoices & payments, and diversity procurement – all in one place. For SUBCONTRACTORS, the platform offers fast and cost-effective receivables financing, including an Early Pay Program (EPP) that shortens the payment cycle, frees working capital, and allows them to take on more projects.
Source: https://www.finsmes.com/2022/06/constrafor-raises-100m-in-funding.html