Saible has completed its latest angel funding round, bringing the construction payment technology company’s total angel investment to more than £2.9 million. The company will use the funding to continue developing its platform, work with additional project funders and support the delivery of more live construction projects.
Saible was founded to address late and missed payments across the UK construction industry.
Payment processes in construction can involve multiple contractors, subcontractors and suppliers, increasing the complexity of determining when and how funds are distributed.
Delays can place pressure on smaller businesses that must continue paying employees, purchasing materials and completing work while waiting to receive money owed to them.
Saible’s platform is designed to improve payment governance by holding project funds in trust and paying participating suppliers directly at the same time.
The structure aims to provide greater visibility into how project funds are managed while reducing the risk that money intended for suppliers is redirected or becomes unavailable.
Holding project cash in trust can also offer additional protection if a contractor or another participant in the payment chain becomes insolvent.
Saible believes its model can reduce financial risk for supply chain members while giving project owners, developers and funders greater confidence that money is reaching the businesses completing the work.
The platform is already being used across multiple live construction projects.
The latest investment will allow Saible to expand those deployments and gather additional operational experience as it refines the product.
The company also plans to strengthen its relationships with organizations financing construction projects.
Funders can benefit from clearer oversight of project payments and improved visibility into whether suppliers are being paid according to agreed terms.
Saible’s financing comes as payment practices receive increased attention across the UK construction sector.
Industry participants and policymakers are placing greater emphasis on late payment, supply chain resilience and transparency around the management of project funds.
Existing payment structures may expose subcontractors and suppliers to delays caused by administrative processes, disputes or financial problems elsewhere in the contracting chain.
Saible is seeking to replace that fragmented process with a system where payments are governed through a shared platform and distributed more consistently.
Alongside the angel round, Saible has opened a small crowdfunding campaign intended to make the investment opportunity accessible to a wider group of participants.
The minimum investment for the crowdfunding round is £11.22.
The company said the campaign is intended for people who do not typically have access to early-stage technology investments.
Saible will use the combined support to advance its technology and increase adoption of its payment governance model across the construction supply chain.
