TLDR:
– Handle.com secures investments from Amex Ventures and Suffolk Technologies to streamline construction payments and credit solutions.
– The investments will accelerate technology development and bring greater value to customers in the construction industry.
In what is a significant step towards revolutionizing construction payments and credit solutions, Handle.com has received investments from Amex Ventures and Suffolk Technologies. With this infusion of capital, Handle is poised to enhance its technology development and provide more value to its customers in the construction industry. Patrick Hogan, CEO of Handle.com, expressed excitement over these investments, highlighting their importance in reshaping construction payments. The automation software and integrated payment portal offered by Handle set it apart in the industry, as praised by Matt Sueoka, global head of Amex Ventures.
Delayed payments are a major issue in the construction industry, with days sales outstanding (DSO) standing at 94 days. This is where companies like Handle.com come in to streamline payment workflows and safeguard cash flows for construction projects. The funds from these investments will be used to further develop Handle’s platform and expand its reach within the construction sector. With Construex in Latin America also raising funding to digitize the construction industry, it is evident that technological advancements are on the rise in the sector.
