Saible raises £2.9M to tackle construction's chronic late-payment crisis
Saible, a UK construction fintech building software to stop project money from being delayed, withheld or trapped before it reaches suppliers, has raised £2. 9 million from angel investors. Saible's payment platform enables project funds to flow simultaneously to suppliers across every tier of the construction supply chain, helping prevent delayed and withheld payments.
Key Takeaways
- 9M to tackle construction's chronic late-payment crisis Saible's payment platform enables project funds to flow simultaneously to suppliers across every tier of the construction supply chain, helping prevent delayed and withheld payments.
Cate Lawrence 2 hours ago Share Share Send email Copy link Saible , a UK construction fintech building software to stop project money from being delayed, withheld or trapped before it reaches suppliers, has raised £2.
- In the worst cases, the money never arrives: when ISG collapsed in 2024, it left more than £1.
1 billion in unpaid debts, with hundreds of subcontractors unpaid for completed work.
- Project Bank Accounts were designed to help by ring-fencing project funds, but in practice, they often protect only the top tiers of the supply chain and can be cumbersome to set up and run.
Saible's Digital Parallel Payment Account ('DiPPA') is designed to extend that protection further.
- Jarvey Moss, co-founder and chief executive of Saible, said: "Late payment in construction goes beyond the balance sheet.
It creates pressure that runs through businesses, workers and families.
- 5 million to £2 million footbridge replacement, due to commence in summer 2026, with a programme duration of 12-16 months.
Stats & Key Facts
- #9 million from angel investors.
- #9 million from angel investors.
- #1 million already raised and a further £800,000 angel round, taking Saible's total funding to £2.
- #1 billion in unpaid debts, with hundreds of subcontractors unpaid for completed work.
Saible's payment platform enables project funds to flow simultaneously to suppliers across every tier of the construction supply chain, helping prevent delayed and withheld payments. 9M to tackle construction's chronic late-payment crisis Saible's payment platform enables project funds to flow simultaneously to suppliers across every tier of the construction supply chain, helping prevent delayed and withheld payments. Cate Lawrence 2 hours ago Share Share Send email Copy link Saible , a UK construction fintech building software to stop project money from being delayed, withheld or trapped before it reaches suppliers, has raised £2.
9 million from angel investors. 1 million already raised and a further £800,000 angel round, taking Saible's total funding to £2. Saible tackles one of construction's most persistent problems: systemic cash extraction by late and non-payment.
On a large project, four or five tiers can separate the project owner and the smallest supplier. At each stage, a payment can be delayed or held back, often because the firm holding it can use it as free credit to fund their operations. In the worst cases, the money never arrives: when ISG collapsed in 2024, it left more than £1.
For more details please read the original article at Tech.eu.
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