Constrafor, a NYC-based software provider for the construction industry, raised $264M in equity and debt financing.
The financing included:
- an equity component of $14M led by NFX, and
- a $250M credit facility led by Wafra and Crestline Investors.
The company intends to use the funds to accelerate its growth plans and consolidate its leadership in construction finance technology.
Led by CEO Anwar Ghauche and CTO Douglas Reed, Constrafor provides a vertically integrated supply chain finance and risk management platform which leverages advanced technology and innovative financial products to empower general contractors and subcontractors to optimize cash flow, mitigate risk, and streamline operations.
With integrated procurement tools, simplified invoicing, and the Discovery Network connecting GCs to a wide roster of subcontractors, the platform ensures efficient and organized subcontractor procurement and payment. To round-up the subcontractor administration process, Constrafor’s Prequal and its AI-powered Insurance CoPilot provide contractors with solutions for streamlining insurance document management and automating full policy compliance reviews.
For subcontractors, Constrafor’s Early Pay Program (EPP) accelerates payments at competitive rates, easing cash flow pressures and eliminating lengthy payment cycles. Taking financial empowerment even further, the soon-to-launch Subcontractor CFO Suite will offer advanced tools, such as project-based accounting, supplier management, and enhanced financial controls—redefining financial management for the construction sector.
FinSMEs
28/11/2024