(MENAFN- EIN Presswire)
Adam Benowitz, CEO of BRIX Funding
BRIX Funding
Innovative fintech platform offers fast and reliable funding, reducing payment wait times from 83 days to 24 hours for contractors
Our mission is to revolutionize construction finance by providing a straightforward, hassle-free solution that ensures prompt payment, keeps projects on track, and fosters strong client relationships.” - Adam BenowitzNEW YORK, NY, UNITED STATES, September 24, 2024 /EINPresswire / -- BRIX Funding, a fintech solution built by experienced building and
financial industry change-makers, today announces its official launch, set to transform construction finance with its innovative rapid payment platform. Following a successful seed round at a $20 million pre-money valuation, BRIX aims to bridge the critical funding gap in the construction industry.
In an industry plagued by slow payment cycles, where subcontractors typically wait an average of 83 days for payment, BRIX Funding offers a game-changing solution. By enabling payments within as little as 24 hours, the platform empowers subcontractors to move swiftly to new projects while alleviating financial stress for general contractors. With BRIX, construction businesses can streamline their project finances, meet deadlines, and continue to grow without interruption.
"We recognized a significant gap in the industry when numerous subcontractors approached us for working capital needs," said Adam Benowitz, CEO and Founder of BRIX Funding. "Our mission is to revolutionize construction finance by providing a straightforward, hassle-free solution that ensures prompt payment, keeps projects on track, and fosters strong client relationships."
BRIX Funding's unique approach eliminates the need for extensive paperwork and long wait times. General contractors simply submit project invoices through the BRIX app, allowing subcontractors to review funding offers and receive payment within 24 hours from BRIX. This streamlined process equipped with innovative integrations with Proof and DocuSign, enables construction businesses to:
- Reduce invoice payment wait times from 60-90 days to as little as 24 hours
- Focus on building and take on more projects without financial strain
- Enhance the relationship between general contractors and subcontractors
- Subcontractors can complete the simple, mobile-friendly process in minutes
By addressing cash flow challenges head-on, BRIX empowers contractors to focus on their core business of construction without financial interruptions.
ABOUT BRIX FUNDING
BRIX Funding is a New York City-based fintech company that empowers contractors and subcontractors through reliable financing solutions. As a team of entrepreneurs and industry experts, we provide fast, simple, and streamlined financial support for construction businesses, enabling them to deliver materials and services to clients without financial strain.
Matilda Ivarsson
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